Montana Governor Signs Miner Protection Act

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The governor of the US state of Montana signed a law prohibiting local governments from passing laws that prevent the activities of cryptocurrency miners.

This week, May 2nd, Governor GregGreg Gianforte signed legislation prohibiting miners from being subject to discriminatory electricity rates and tax rules. The bill was introduced in the Montana State Senate back in January 2021. He had opponents who were convinced that mining consumed too much energy and that cryptocurrency mining was exacerbating environmental problems. However, despite these concerns, the bill was approved by the state House of Representatives and Senate, and then received the signature of the Governor of Montana.

This step is aimed at protecting the interestsminers and the development of an industry in which interest is increasingly growing in the United States. In this regard, the United States government is trying to regulate this growing sector at the federal level. Recently, the administration of US President Joe Biden proposed introducing a 30% tax on miners so that they would consume less electricity and stop damaging the environment.

Supporters of mining regarded the signedbill in Montana as a positive development for the industry. They believe that cryptocurrency mining will benefit the state's economy by creating more jobs. Additionally, it sets a precedent for other states considering similar legislation.

As a reminder, stablecoins, non-fungible tokens (NFTs) and other digital assets are now considered the personal property of citizens in Montana.