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Missouri Passes Bill to Protect the Rights of Crypto Miners

source-logo  cryptoknowmics.com 09 March 2023 06:11, UTC

Missouri lawmakers have voted to amend House Bill 764. The new sections added by Missouri lawmakers generally seek to develop and define the legal framework for handling digital assets in the state with a particular focus on the rights of crypto miners. They cover topics ranging from energy consumption to noise pollution.

Missouri Digital Asset Mining Protection Act Seeks to Protect Crypto Miners

The document distinguishes between commercial miners and home miners and provides protections for both. Mining operations involve running multiple computers in the same location and using more than a megawatt of electricity. The bill states that no local or higher political body can enforce the cessation of work in areas designated for industrial use. Instead home digital asset mining takes place in residential areas. Both types of miners are protected from energy discriminatory tax rates. Likewise home cryptocurrency mining cannot face discriminatory regulations regarding noise pollution. The bill also states that any jurisdiction seeking to change zoning must provide adequate notice and go through an appeals process. The section titled “Digital Asset Mining Protection Act'' clearly states that those involved in home digital asset mining are not considered money transmitters.

Cryptocurrency Regulation is Led by Individual States

All parties including the White House have criticized federal lawmakers but each state has proven to be more active in digital assets. With the help of a non-profit advocacy group called the Satoshi Action Fund the Montana bill seeks to protect the right to mine Bitcoin and other cryptocurrencies. Additionally, it prevents discriminatory ideas against miners and prohibits tax increases. Legislators in Wyoming recently drafted a bill to protect anyone associated with digital assets. Unlike the Montana and Missouri bills, the Wyoming bill passed in mid-February seeks to keep individuals' private keys safe. Despite the criticism, lawmakers at the federal level have not been entirely idle. Earlier in the week, a bipartisan group introduced legislation called the Guardians of Americas Innovation Act with the broad goal of circumventing regulatory oversight when it comes to digital assets.