According to the latest information, the US state of Montana has officially passed the 'Mining Rights' Bitcoin (BTC) bill from the House and Senate.
Montana's "Right to Mining" Bitcoin bill is a proposed piece of legislation aimed at protecting the rights and interests of cryptocurrency miners in the state.
The bill is currently awaiting governor's approval.
Bill in Montana Protects Bitcoin Mining
Under the bill, crypto miners have the right to mine digital assets without discrimination, additional taxes, zoning restrictions or renewable energy requirements. The bill also recognizes digital assets as personal property and allows crypto payments for goods and services.
The bill protects home mining, avoids discriminatory usage tariffs for miners, and stipulates that crypto used as payment will not be subject to additional taxes.
The legislation also draws strength from local governments, preventing them from resisting home mining or retroactively using zoning laws to end active activities.
"These protections, along with the clarification of tax law on digital assets when used as payment, will send a message that we are open to embracing the digital asset mining industry in Montana," said Montana Senator Daniel Zolnikov.
Bitcoin advocacy group Satoshi Action Fund helped draft the wording in the bill. "There's still a lot of work to be done in Montana, but we are confident about the progress we've made as a startup," said Dennis Porter, CEO and co-founder of Satoshi Action Fund.
Bitcoin miners are targeted by environmentalists and US lawmakers for their carbon neutral goals and potential impact on power grids.
*Not investment advice.