- Only one signature is left for the law designed for crypto miners in the state of Montana in the USA.
- The law prevents local authorities from obstructing crypto mining activities.
- According to the bill, digital assets will be classified as personal property.
Montana State in the USA Approves Crypto Law!
The bill in Montana state of the United States, which aims to protect the rights of crypto miners, has successfully passed the third reading in the state’s House of Representatives. Now, the only thing left for it to become law is the governor’s signature.
Bill number 178, which prohibits local authorities from obstructing crypto mining activities, was approved with 64 votes in favor and 35 against in the third reading held on April 12. The legislation had passed the Senate vote in February. Now it will go to Governor Greg Gianforte’s desk. Although Gianforte has the right to veto the bill, it is unlikely that he will do so as the bill’s sponsor, state Senator Daniel Zolnikov, is also a member of the Republican Party.
What Does This Law Include?
The legislation aims to create a “digital asset mining right” and prohibit discriminatory electricity rates applied to crypto miners. In addition, it seeks to protect mining operations that take place “at home” and remove the power of local governments to use zoning laws to obstruct crypto mining activities.
The bill also prohibits any additional taxes on using cryptocurrency as a payment method. Digital assets consisting of cryptocurrencies, stablecoins, and NFTs are classified as “personal property”. The amended bill contains a significant change compared to the original draft, and the third section has been significantly shortened.
The previous version of the third section covered almost three full pages and included several articles unrelated to crypto mining. Now, the third section summarizes three specific areas that limit the power of local authorities, including a restriction that imposes different requirements on mining centers than data centers.
In addition, officials cannot obstruct crypto mining in industrial areas and private homes. In early April, a bill protecting crypto miners from discriminatory regulations and taxes passed both the Arizona House of Representatives and Senate and is now awaiting the governor’s decision.
