The Montana Senate passed a law to protect cryptomining from discrimination.
Project 37-13 is designed to protect domestic mining and enterprises. It prohibits operators from introducing “discriminatory utility tariffs.” And mining companies are protected from taxation on mined cryptocurrency.
Supporters of the bill believe that the mining business is good for the state’s economy. Mining creates new jobs and brings income to the budget. Of course, there were those who opposed the adoption of the law. Traditionally, their arguments have been that mining is bad for the environment and consumes too much energy.
Despite the debate, the bill passed first the state House of Representatives and then the Senate. It was signed by Montana Governor Greg Gianforte on May 2. The law was authored by Dennis Porter and the Satoshi Action Fund.
In general, Montana has become a popular region for cryptocurrency mining. Two factors coincided here — low electricity tariffs and favorable climatic conditions for equipment operation. It is important that the state approves the development of the crypto industry. Several blockchain-based startups and projects have already been established in the region.