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US lawmakers propose laws protecting bitcoin mining

us-lawmakers-propose-laws-protecting-bitcoin-mining
Edited by
News
US lawmakers propose laws protecting bitcoin mining

Mississippi and Missouri lawmakers have introduced bills to protect and encourage bitcoin (BTC) mining operations and node operators in their states.

Legal protection for bitcoin (BTC) mining

Legislators from two U.S. states, Mississippi and Missouri, have moved to take advantage of the emergence of blockchain technology by proposing new legislation to legally protect their residents’ right to mine bitcoin (BTC) and engage in node-running operations.

Per reports, the bills are being reviewed by the Houses and Senates of the two states, with lawmakers expected to vote on the proposed legislation soon. Sen. Josh Harkins, Rep. Jody Steverson for Mississippi, and Rep. Phil Christofanelli for the Missouri House are the sponsors of the legislation.

The structure of both bills was inspired by the non-profit bitcoin mining advocacy organization, Satoshi Action Fund, and they specifically state that it is completely legal to own and operate mining nodes both in private residences and at an industrial scale. 

In addition, the proposed legislation will protect miners in the states from “discriminatory energy rates,” political subdivisions trying to set a different set of rules concerning zoning which do not apply to other data centers in the state, and so on.

Dennis Porter, who is the CEO and founder of the Satoshi Action Fund, urged residents of the states to see the new development as an opportunity to become active participants in the “bitcoin boom.”

“Mining facilities often get built in rural parts of America. We hope Missouri and Mississippi see this potential and begin opening up their states to Bitcoin mining businesses.”

Dennis Porter, CEO and Founder, Satoshi Action Fund.

The proposed bill becomes the latest effort from the U.S. government to jump on the crypto train. In Dec. 2022, outgoing Pennsylvania Senator Pat Toomey introduced a bill centered around stablecoin legislation, which will serve as a blueprint for more amenable crypto laws in the near future.

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