Montana's new law safeguards crypto mining rights, preventing discriminatory electrical rates and taxes on crypto used as payment.
Greg Gianforte, the governor of Montana, has signed into law a bill largely preventing local governments in the state from passing laws prohibiting cryptocurrency mining.S.B. 178 into law on May 2 after the bill had passed both the state House and Senate. The legislation effectively enshrines crypto miners’ rights in the state by revising existing laws, prohibiting discriminatory electrical rates for mining firms and not allowing taxation for crypto used as a method of payment.
The latest version of the bill suggested that the legislation was introduced partly as a preventive measure in response to certain proposals in other states — i.e. “digital asset mining has often faced difficulty with regulations at the state and local level." For example, in April, lawmakers in the Texas state Senate
aimed at limiting incentives for crypto miners through participation in a program intended to compensate them for load reductions on the state’s power grid.
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