Governor of Montana (USA) Greg Gianforte signed document SB 178, which prohibits at the legislative level from interfering with the activities of mining companies.
BREAKING: The State of Montana has officially signed the ‘Right to Mine’ #Bitcoin bill into law. pic.twitter.com/f3PD1WgTOW
— Satoshi Action Fund (@SatoshiActFund) May 4, 2023
The bill is designed to allow companies to mine cryptocurrency “without being subjected to undue infringement [прав] or requirements.”
In particular, the rules prohibit the introduction of discriminatory electricity tariffs. Also, taxation of “cryptocurrency used as a payment method” is not allowed.
According to the authorities, the document will help the state’s economy by giving legal certainty to the mining industry and stimulating investment.
In Texas, on the contrary, they proposed to limit benefits for enterprises engaged in the production of the first cryptocurrency. The bill eliminates tax incentives and requires organizations with a capacity of more than 10 MW to register as large flexible load operators with the state power provider ERCOT.
Recall that in March, the US Treasury advocated the introduction of an excise tax for mining companies.
Later, President Joe Biden’s Council of Economic Advisers proposed including a 30% tax on electricity used in cryptocurrency mining in the federal budget.
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