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- Nebraska’s LB 526 bill passes unanimously, slightly restricting Bitcoin mining with infrastructure and energy usage reporting requirements.
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The bill doesn’t impose serious limits on mining, but it allows authorities to interrupt services and mandates infrastructure cost coverage.
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Marathon, Nebraska’s largest mining firm, could offer valuable insights on how the bill affects operations in the state.
Nebraska’s state legislature has passed a bill that slightly restricts Bitcoin mining operations, introducing new reporting requirements but not imposing severe limitations.
Nebraska to Restrict Bitcoin Mining
Crypto regulation is sweeping across America, as recent legislative movements highlight the ongoing debate surrounding Bitcoin mining. The Republican Party presents a complex stance on crypto, navigating between support and regulatory measures.
For instance, in Nebraska, a unanimous vote from a 2/3 majority GOP legislature to restrict Bitcoin mining reflects this ongoing discourse. The newly approved bill, LB 526, introduces essential guidelines for the state’s mining operations.
“The Nebraska Legislature just passed a bill to regulate Bitcoin miners. LB 526 requires large miners to cover the cost of infrastructure upgrades, requires miners to report energy usage, and permits authorities to interrupt service. The bill passed unanimously 49-0,” a crypto policy watchdog claimed.
While LB 526 isn’t a massive roadblock for mining companies, it signifies a notable shift in the regulatory landscape for cryptocurrency operations. The straightforward two-page bill primarily concerns the management of electrical grids rather than environmental impact, setting it apart from more stringent anti-mining legislation elsewhere.