Montana Senate approves bill to protect crypto miners

Key Points: The Montana State Senate passed a bill that seeks to protect the crypto mining industry against a variety of actions that could damage it.
The law is binding on local governments and prevents them from using at-home mining to stop active operations.
Environmentalists and lawmakers have criticised Bitcoin miners for their actions on carbon neutrality goals, and the impact they have on electrical grids.
The Montana State Senate approved a bill Thursday that protects the crypto-mining industry against a variety of threats. The Senate passed the proposed legislation with a vote of 37% to 13%. It now heads to the House of Montana for approval. The law also gives local governments power, stopping them from moving against at home mining or retroactively using existing zoning laws to close down active operations. This could have a significant impact on Missoula County which in 2020 adopted a zoning ordinance that required bitcoin miners to purchase or build renewable energy assets equal to their energy consumption. The new law would stop such ordinances being enacted. Bitcoin miners have been criticised by environmentalists and lawmakers for their impact on carbon neutrality goals, and the electrical grids. Miners responded by drafting as many as five bills through state legislatures to protect their interests. One advocacy group, Satoshi Action Fund was instrumental in the Montana bill’s language. It remains to be seen if the legislation will pass the House and be signed into law. It remains to be seen whether the legislation will pass in the House and be signed into law, but it is clear that crypto miners are mobilizing to protect their interests in the face of increasing scrutiny and potential regulation.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.Join us to keep track of news: NewsTags: Crypto MinersMissoula CountyMontana SenateMontana State Senate