Texas legislators have limited the rights and benefits for miners

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A bill limiting benefits for crypto asset miners in the US state of Texas and expanding the rights of supervisory authorities was unanimously adopted by a committee of the US Senate.

Bill 1752 proposes the removal of incentives,aimed at attracting miners to the region. The initiators of the bill believe that the preferential state program of rewards and support for miners has become obsolete, as the demand for electricity and its consumption during mining has increased in Texas by 75% over the past 12 months.

In addition to the abolition of rewards, the billaims to eliminate other tax incentives and subsidies that are currently helping to expand the business of mining companies. For example, if the law is adopted, a number of tax benefits on the property of mining companies will be canceled.

However, companies with computing powerover 10 megawatts (MW) will be required to register as heavy load operators with ERCOT. This will impose additional costs on mining companies to implement mandatory measures that increase the reliability of the Texas power system.

Bill sponsored by a senatorState of Texas Lois Kolkhorst, was passed by a committee of the US Senate unanimously. This raised the concern of local cryptocurrency companies that it could be approved as state law, bypassing the stage of voting in the House of Representatives.

Earlier, a member of the US House of Representatives, Cody Harris, submitted for discussion a bill aimed at protecting the rights of bitcoin owners in the state of Texas.