Missouri Passes Crypto Mining Protection Act
The US state of Missouri passed the “Digital Asset Mining Protection Act” on March 7 to protect the rights of crypto miners.
The bill would not allow state and political subdivisions to stop crypto mining operations. The bill stated:
“The Digital Asset Mining Protection Act “precludes the state and political subdivisions from prohibiting the operation of a node or series of nodes for the purpose of domestically mining digital assets,”
The bill ensures that crypto mining companies are subject to the same laws as other businesses, so that specific laws cannot target them. It primarily aims to prevent energy companies from applying discriminatory tax rules to mining companies.
The bill also mandates the state to give “proper notice” before adjustments are made to the rules related to cryptomining. Naturally, this bill legalizes crypto mining and allows institutions to engage in mining activities within zones approved for industrial use.
The bill passed with a unanimous vote of 12 to zero in favor, securing support from both Democrats and Republicans. However, this is an amended version of the bill, meaning it must be passed by a Missouri House committee before moving to the Senate, as Blockwork reports.
Mining in the United States
The US is one of the leaders in crypto mining. According to the October 2022 data, two US mining pools, Foundry and Antpool, account for over 51% of the global hash rate. Texas hosts over 30 mining companies within its borders, emerging as the nation’s mining hub.
The latest development on the mining front in the United States came from Mississippi. In February, the Mississippi Senate passed a bill legalizing Bitcoin (BTC) mining in the state. Like Missouri’s law, Mississippi’s bill also ensured that mining companies were not subject to any discrimination.
A contrasting stance on mining came from New York in June 2022. The New York Senate passed a bill banning any new proof-of-work (PoW) mining from starting for three years.
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