Governor Greg Gianforte of Montana has approved a bill that prevents local governments from passing laws prohibiting cryptocurrency mining.
The new legislation aims to protect the rights of crypto miners in the state, including prohibiting discriminatory electrical rates and taxes on crypto used as a payment method.
The bill was introduced in response to the difficulties that crypto mining faced with regulations in other states. Similar pro-mining legislation has been passed or is progressing in Arkansas and Missouri, but the Mississippi bill has already failed.
At the federal level, the Biden administration proposed a 30% tax on crypto miners’ electricity usage as part of its FY2024 budget proposal.