The Montana legislature has passed a bill that protects the right to mine bitcoin, among other provisions. The law project is designed to give Bitcoin miners the right to mine “without being subject to discrimination or undue demands.”
Bitcoin mining has already encountered difficulties with regulations at the national and local level, so this bill provides legal certainty for the industry. Montana is one of the first states to provide legal protection for bitcoin mining.
The new legislation would also prohibit discriminatory pricing from public digital asset mining services, prohibit local government powers related to digital asset mining, and prohibit specific taxation on the use of cryptocurrency as a method. of payment.
Additionally, the bill provides that digital assets are personal property. According to the bill, the Montana Public Service Commission cannot establish a tariff classification for digital asset mining, digital asset mining businesses, or home-based digital asset mining that creates unduly discriminatory prices. The bill also states that digital assets used as a method of payment cannot be subject to additional taxation or fees by the state or local government.
The bill would help Montana’s economy by giving legal certainty to the digital asset mining industry, encouraging investment in Montana and attracting new businesses to the state. The bill also helps ensure the stability of Montana’s power grid.
