finbold.com
Lawmakers from the Mississippi senate have passed a new law establishing a framework for protecting Bitcoin (BTC) miners in the state.
The bill dubbed the “Right to Mine” will protect Bitcoin mining from discrimination in the state while recognizing the activity’s ability to boost the economy and stabilize the grid, a tweet by Documenting Bitcoin on February 9 indicated.
“It shall be legal in the State of Mississippi to run a node for the purpose of home digital asset mining” and “operate a digital asset mining business,” the bill states.
The bill, sponsored by Senator Josh Harkins, has utilized language from the Satoshi Action Fund, a non-profit organization established to educate lawmakers and regulators on the benefits of Bitcoin.
Indeed, Satoshi Action Fund founder Dennis Porter pointed out that despite the bill’s passage, more work still needs to be done.
I’m proud to have been a part of this historic step in Mississippi. There is still more work to be done. We have to get this bill passed on the House side and signed by the Governor, but myself and @SatoshiActFund are ready to fight for your right to mine #Bitcoin and run a node. https://t.co/uZJAxK6HO6
— Dennis Porter (@Dennis_Porter_) February 9, 2023
Areas of discrimination protection
The new law states that it will be illegal to discriminate energy rates directed at Bitcoin miners alongside prohibiting the mining from being considered the act of money transmitting.
Notably, the latest action from Mississippi highlights the growing interest from states across America seeking to benefit from adopting Bitcoin and utilizing it within their energy networks. This comes at a point the United States is accelerating the push to regulate the crypto sector, with Bitcoin mining ranking high among the talking points.
However, there remains contention regarding the possible energy consumption by mining operations and its impact on the environment. As reported by Finbiold, democratic leaders are therefore pushing environment regulatory agencies to compel mining operators to disclose their power consumption and pollution.
At the same time, a section of lawmakers recognizes Bitcoin’s ability to serve as a form of currency. In particular, Arizona’s senate recently introduced a bill seeking to declare Bitcoin a legal tender. If the bill passes, state agencies will leverage cryptocurrencies to pay taxes and fines, among others.