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Tuesday, September 26, 2023

The Montana House Approves Bill on Crypto Mining and Sends it to Governor for Signature

The Montana House of Representatives passed a bill designed to protect all types of digital asset miners, including those who mine within their homes. The bill, now headed to Governor Greg Gianforte’s desk for final ratification, passed its third House reading with a vote of 64-35. The legislation, sponsored by Republican State Sen. Daniel Zolnikov, was amended before it passed the Senate in February. Zolnikov expressed optimism about the bill’s chances of being signed into law.

The bill seeks to establish a “right to mine digital assets,” entitling both industrial and at-home miners to conduct their business free from government interference. Once the bill is signed into law, miners will be able to proceed with their operations as they see fit, provided they adhere to noise ordinances in residential areas that are already in place. The bill also prohibits electricity providers from charging “discriminatory rates” to industrial or at-home miners. If the account is enacted, state and local authorities cannot levy additional taxes on people using cryptocurrency as a form of payment.

Supporters of the bill took to Twitter to express their gratitude to the Satoshi Act Fund. This nonprofit organization educates lawmakers about Bitcoin for its work in getting the account to the governor in Montana. Senator Zolnikov expressed that this legislation will allow Montana to guarantee that miners can do business in the state and create many rural jobs and opportunities that the state needs.

The fund’s CEO, Dennis Porter, testified in favor of the bill in early March. 

In response to discrimination against bitcoin miners across the US, Montana has passed a bill to protect all types of digital asset miners, which is now awaiting final ratification by Governor Greg Gianforte. The bill establishes a “right to mine digital assets,” giving industrial and at-home miners the freedom to conduct their business without government interference as long as they comply with noise ordinances in residential areas. The bill also prohibits electricity providers from charging “discriminatory rates” to miners and prevents state and local authorities from imposing additional taxes on people using crypto as payment. The Satoshi Act Fund was praised for educating lawmakers on Bitcoin and helping get the bill to the governor. In contrast, the future of digital asset mining in New York is uncertain due to a lawsuit against the state agency responsible for allowing proof of work cryptocurrency mining.

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