Regulation of cryptocurrencies is already well underway in the US. But alas, thoughts still continue to differ. Those who support cryptocurrencies currently have a stronger position. The Montana Senate has enacted a measure on cryptocurrency mining, as it is recently reported by our sources.
In Montana, crypto mining is a significant industry. Therefore, it is challenging to deal with practical problems caused by unceremonious behaivor under a highly hazy legislative environment. And this is the very purpose of the legislation that Daniel Zolnikov has put out.
The State Senate of Montana has Approved the Measure
The state Senate of Montana has approved a measure that includes additional crypto-friendly legislative features and safeguards crypto miners from discrimination. The Montana General Assembly received Zolnikov‘s bill on January 16. On February 23, it was passed with 37 votes in favor and 13 votes against the bill.
In particular, Zolnikov‘s bill grants Montanans the right to mine digital assets, forbids discriminatory tariffs against crypto miners, forbids local governments from using zoning regulations, safeguards the Montana crypto mining market, forbids additional taxes on crypto, and treats digital assets (including cryptos and NFTs) as personal property.
The Montana crypto mining measure must have State House approval in accordance with the law as it stands. Governor Greg Gianforte won’t sign it into law until after that. The latter may very possibly veto the bill, as the law states.
The approval of this measure by the Montana General Assembly can only be hailed at a time when cryptocurrency mining is on the rise. In any event, this is excellent news for everyone interested in cryptocurrencies.