Montana Leads the Way: Landmark Bill Passed to Protect Bitcoin and Crypto Mining Rights – 251

Rights being protected in Montana as the Senate passes a bill to protect Bitcoin And crypto Mining rights the Montana State Senate has officially passed a Bill to protect Bitcoin and crypto Mining rights the bill was led by Dennis Porter and the Satoshi action fund and Was passed by a landslide vote of 37-13 The quote right to mine end quote Bitcoin bill was designed to protect Crypto mining companies from Discriminatory digital asset mining Utility rates it reads which would say That the federal law is a discriminatory Attacks on the power being utilized by Miners but at the state level can they Block that Federal right this gets back Into all the weirdness that we've seen In the marijuana sector for example and States rights allowing you know the Legalization of marijuana when it wasn't Legalized or even decriminalized by the Federal government And you get into this position where we Could see just a rinse and repeat of the Same old story over and over again Where a state has these protections but The IRS comes in and makes a few Examples of some people large miners or Whatever that reside within Montana and In an attempt to scare everybody to Comply and I think there will be a Certain set of people that will comply And there will be a certain set of

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People that do not comply and I think That there will be examples made of Those that do not comply at the federal Level but how much can this really Protect anybody Crypto mining has long been a source of Conflict between state governments and The mining infrastructures within its Borders the Montana State Senate has Officially passed a bill to protect Bitcoin and crypto Mining rights the Right to mine crypto bill was passed Today and is set to protect crypto Mining companies from unfair charges Specifically the legislation will revise Crypto laws to prohibit discriminatory Digital asset mining utility rates Within the state Yeah but if you tax it from the federal Government then it's that seems to Bypass this right what is what this is Saying particular in particular is that A power company cannot go in and say Because you were mining you have to pay Extra right this is what we saw in Washington state this is why mining Companies within Washington State Rezoned as data centers right and so There are still workarounds even in Those States but I don't think this Protects from the federal government Putting a tax on that power itself the Passing of the bill was led by Dennis Porter and the Satoshi action fund blah

Blah blah we've read that already the Satoshi action fund is pleased with the Results in Montana it is critical to Provide regulatory certainty for the Mining industry Porter told Watcher Guru We have been working diligently to Ensure that Bitcoin miners have the Right to mine across the USA there is Still more work to be done in Montana But as a new organization we feel Confident about HD progress we have made I think it's supposed to say the Progress and I think they moved the T After the H and forgot the e but that's Okay I am pleased the Montana Senate Passed SB 178 with overwhelming support Montana State Senator Daniel zong Zalnikov stated this is a common sense Legislation that protects digital asset Mining businesses and discrim from Discrimination not faced from other Industries and that's a question I have For you guys when does this become an Invasion of privacy and when does it Invade like violate rights in your Opinion I've Heard lots of opinions Surrounding this but what you are seeing Is essentially a discriminatory act Based on what you are utilizing power For should the federal government or the State government at that point be Allowed to discriminate basically based On what you utilize power for why is Plugging in an electric vehicle okay but

Not plugging in a Bitcoin miner why is Plugging in a deep freezer okay but not Plugging in a Bitcoin miner these are The questions I have And arguably I would say in a lot of Cases there's a ton of benefits to Society to having at-home minors as well So this target to at home miners with The White House's proposal is quite telling Yes you know not telling but scary I Suppose Conclusively zolnikov added these Protections along with clarifying tax Law in relation to digital assets when Used as payment we'll plant the flag in Montana that we are open to embracing The digital asset mining industry Porter And the Satoshi action fund are clear in The determination to get similar Legislation passed in multiple States Hopefully creating a more consistent Legislative approach to mining practices Throughout the country Montana's Senate Bill officially Prohibits quote Local Government powers Related to digital asset mining as well As taxation on the use of cryptocurrency As a payment method It states moreover it notes that digital Asset mining provides positive economic Value for individuals and companies Throughout the United States the bill Has been in consideration for the past

Few weeks and is a large step forward For crypto mining subsequently it passed Its passing should work to Aid crypto Mining companies in bracing Montana as a Viable setting for their operation and Excuse me hold on And you'll see this ad across uh a Variety of states Probably the the flyover states to help Increase Revenue right and I think You'll start to see it in states that Start to suffer from a reduction in uh Productivity for crops and so on one of The things I saw Here recently is that We're starting to witness a collapse of The marijuana industry where four Thousand dollars a pound coming from California is now worth three to six Hundred dollars a pound and there's a Collapse of that industry going on and Where do you replace industry with while You typically replace industry with Other industry right if you have a bad Crop I mean as a farmer as well it goes To show that if if you're going to get Paid more for soybeans than for for Wheat right you're going to go ahead and Grow the soybeans and if you're going to Begin to not be able to produce as much Revenue for your marijuana crops what do You move to after that it's kind of Interesting I haven't gotten to fully Read it but it's definitely going to be An important thing because these two

Industries are starting to cross a lot Especially because some of the biggest Benefits to A lot of the industry as far as like Marijuana goes has lately been talks of Utilizing Bitcoin mining to keep the Temperatures basically within Specification when growing so it's going To be interesting to watch these two Industries and see how it shakes out Especially as it relates to regulation Within the U.S and state to state thanks For checking out this clip from the Crypto mining show you can check out the Full episode here or more crypto content Down here also I'd like you to check out My locals page at son of a Tech.locals.com where you can become a Member for free or choose to be a five Dollar a month supporter that unlocks Additional content

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