House approves Montana’s crypto mining law

The law seeking to enshrine the rights of cryptocurrency miners in the U.S. state of Montana passed its third reading in the state’s House of Representatives. Now, all that is necessary for the bill to become law is the governor’s signature.

Bill 178, prohibiting municipal authorities from impeding cryptocurrency mining, was enacted in its third reading on April 12 by a vote of 64 to 35.

In February, the legislation had already passed the Senate. It will now be delivered to Governor Greg Gianforte’s desk.

Gianforte has the right to veto the measure, but it is unlikely that he will do so because he is a member of the same political party as the bill’s sponsor, state Senator Daniel Zolnikov.

The legislation seeks to establish a “digital asset mining right” and prohibit discriminatory electricity rates charged to cryptocurrency miners.

In addition, it seeks to protect mining operations that occur “at home” and eliminate local governments’ authority to use zoning laws to impede crypto-mining activities.

The measure prohibits any additional taxes on the use of cryptocurrencies as a payment method. It classifies “digital assets,” which include cryptocurrencies, stablecoins, and nonfungible tokens, as “personal property.”

Comparing the original draft to the amended draft, section three has been significantly shortened in the amended draft. The previous version of Section 3 spanned nearly three pages and contained numerous articles unrelated to cryptocurrency mining.

Now, Section 3 outlines three specific areas in which the local authorities’ authority is limited, including a prohibition on imposing different requirements on mining centers and data centers.

In addition, the government cannot prohibit cryptocurrency mining in industrial areas or private residences.

Early in April, the Arizona House and Senate passed a bill protecting crypto miners from discriminatory regulations and taxes, and it now awaits the governor’s decision.