• Missouri has passed a bill called the „Digital Asset Mining Protection Act“ to protect the rights of crypto miners.
• The bill ensures that crypto-mining companies are subject to the same laws as other businesses and prevents energy companies from applying discriminatory tax rules to mining corporations.
• The U.S. is one of the leaders in crypto mining, with Texas hosting over 30 mining companies within its borders, and Mississippi recently passing a legislative bill that legalized Bitcoin (BTC) mining within the state.
Missouri Passes Crypto Mining Protection Law
The U.S. state of Missouri has passed the „Digital Asset Mining Protection Act“ on March 7th in order to protect the rights of crypto miners. This legislation won’t allow state and political subdivisions to halt crypto mining nodes‘ work, ensuring that crypto-mining companies are subject to the same laws as other businesses so that specific laws can’t target them. Additionally, it mandates the state to give „proper notice“ before making adjustments to rules related to crypto mining.
U.S.: A Leader in Crypto Mining
The United States is one of the leaders in cryptocurrency mining, with two major pools – Foundry and Antpool – accounting for over 51% of global hash rate according to data from October 2022. Texas stands forward as a hub for these operations, hosting over 30 different mining companies within its borders, while Mississippi recently passed a legislative bill legalizing Bitcoin (BTC) mining within its boundaries too.
New York’s Contrasting Attitude Towards Mining
However, not all states have been welcoming towards cryptocurrency mining operations – New York’s senate passed a bill back in June 2022 banning any new proof-of-work (PoW) projects from starting up for three years across its borders due to environmental concerns caused by large scale electricity consumption associated with these activities.
Digital Asset Mining Protection Act
Despite New York’s efforts however, Missouri remains determined not only legalize but also protect cryptocurrency miners by passing this act which:
- „Precludes the state and political subdivisions from prohibiting running a node or series of nodes for purpose of home digital assetminig.“
- „Ensures that energy companies cannot apply discriminatory tax rules against miners.“
- „Mandates proper notice before making adjustments related to digital assetmining.“
Conclusion
The Digital Asset Mining Protection Act was voted unanimously on March 7th by both Democrats and Republicans alike before moving onto House committee approval and then eventually Senate consideration – demonstrating an overall positive attitude towards cryptocurrency operations across United States despite some individual states opposing this trend due environmental concerns associated with such activities..