US State of Montana, Bitcoin (BTC) The ‘Right to Mining’ bill was officially signed and enacted.
The Montana State Senate voted on Thursday, February 23, in favor of a bill that protects Bitcoin miners from a wide variety of anti-industry actions. The law also limits the ability of local governments to put pressure on miners.
The law was supported by the Satoshi Action Fund, a non-profit organization that advocates for Bitcoin mining in the US. Jason Les, the fund’s founder and executive director, said the law will help Montana become a leader in the global crypto mining industry and benefit the state’s economy, environment and energy grid.
The law also prohibits raising service fees for miners and prevents additional taxes being imposed on cryptocurrency transactions.
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
In the US, both governmental and non-governmental organizations are targeting cryptocurrency miners because of the extensive energy needs of their operations, after a report last July estimated that US cryptocurrency miners use as much electricity as the city of Houston.
The bill passed overwhelmingly in both houses of the Montana legislature. The Senate passed the bill by a vote of 37-13 in February, and the House by a vote of 64-35 in April. The law received bipartisan support from legislators who recognized the potential of crypto mining to create jobs, income and innovation for Montana.
*Not investment advice.
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