Montana has passed legislation protecting the right to mine bitcoin, and it’s a good money earner in the Midwestern state.
The Montana legislature has passed a bill protecting the right to mine bitcoin, among other provisions. Bill It was designed to give bitcoin miners the right to mine “without exposure to discrimination or undue requirements.”
Bitcoin mining has struggled with regulations at the state and local level before, so this law provides legal certainty to the industry. Montana is among the first states to provide legal protection for bitcoin mining.
The new legislation would also prohibit discriminatory interest rates for digital asset mining, prohibit local government authorities related to digital asset mining, and prohibit specific taxes on the use of cryptocurrency as a payment method.
In addition, the law provides for digital assets as personal property. According to the bill, the Montana Public Service Commission may not create rate classifications for digital asset mining, digital asset mining businesses, or home digital asset mining that create unjustified discriminatory rates. The bill also states that digital assets used as a means of payment may not be subject to additional taxes or fees by the state or local government.
The bill will 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.
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