- It prohibits home miners from raising the communal apartment
- And also tax companies on the mined crypto
Montana Senate accepted historical law to protect crypto-mining from discrimination. Project 37-13 protects both home mining and enterprises. It prohibits operators from imposing “discriminatory utility rates”. At the same time, mining companies are protected from taxation on the mined cryptocurrency.
Supporters of the bill are confident that the mining business is good for the state’s economy. It creates new jobs and brings revenue to the treasury. But there were also opponents on the ballot. Traditionally, their arguments boil down to the fact that mining is harmful to the environment and consumes too much energy.
Despite debate, the bill was passed first by the State House of Representatives and then by the Senate. On May 2, it was signed by Montana Governor Greg Gianforte. The author of the law was Dennis Porter and Satoshi Action Fund.
Montana has become a popular region for cryptocurrency mining. Here two factors coincided – low tariffs for electricity and favorable climatic conditions for the operation of the equipment. It is important that the government approves the development of the crypto industry. Several blockchain-based startups and projects have already been created in the region.
Meanwhile, Texas passed a law that regulates the operation of crypto exchanges. They are now required to provide evidence of reserves to local authorities.