• The Montana state legislature passed a new crypto bill on Feb. 23, 2021 to protect miners from various exploitative acts.
• The bill will ensure miners are not charged electricity rates discriminately and that digital assets will not be taxed if used as a payment method.
• Montana has had regulations and efforts by the private sector in the past three years seeking to decrease the carbon footprint of crypto mining within the state.
Montana Senate Passes Crypto Bill
The Montana state legislature passed a new crypto bill on Feb. 23, 2021 to protect miners from various exploitative acts. The bill seeks to give crypto miners competitive advantages and is aimed at ensuring they are not charged electricity rates discriminately by the commission involved. Additionally, it will change the zoning ordinance so that home crypto miners who live in residential zones and use less than 1 megawatt annually will not be charged extra fees while mining businesses within industrial zones that consume more than 1 megawatt on an average annual basis will only be charged for the cost of service and no extra fee.
Crypto Protected From Unduly Taxation
The bill also protects the utility of crypto and other digital assets from unduly taxation. It decrees that digital assets will not be taxed if used as a payment method. This adds an additional layer of security for those who use cryptocurrencies as payment methods since they don’t have to worry about extra taxes being imposed upon them due to their choice of currency or asset type.
Attempts To Reduce Carbon Footprint
Montana has had regulations and efforts by the private sector in the past three years seeking to decrease the carbon footprint of crypto mining within the state. In 2020, the county of Missoula passed legislation requiring miners to buy or build green energy assets to generate as much power as they consume; however, residents and local officials turned down this project a month later due to environmental concerns. Despite this setback, Daniel Batten reported earlier this week that industry uses an impressive 52% green energy in bitcoin mining – putting it ahead of many other industries in terms of environmental sustainability..
Impact Of Crypto Regulation
This recent passage of legislation highlights how important cryptocurrency regulation is becoming around the world – with countries like Canada pushing for similar protections for their own citizens who choose to mine or transact with digital currencies such as Bitcoin or Ethereum . With governments getting more involved in regulating cryptocurrency activities, one can expect even greater protection from exploitation for those who choose to participate in these activities going forward – regardless if it’s through mining or trading/investing platforms like Coinbase Pro .
In conclusion, this latest passing of legislation is great news for those interested in participating in cryptocurrency activities like mining without fear of exploitation or undue taxation based on their choice of asset type or payment method (i.e., using Bitcoin). As more countries continue to pass laws protecting users from such malicious actors, we can expect even greater adoption rates among traditional investors/traders looking into cryptocurrencies as well as those already participating but may need greater assurance when doing so .