Home Regulation Missouri passes crypto mining protection law

Missouri passes crypto mining protection law

0 comment

Missouri, U.S.A.Digital Asset Mining Protection Actt” was issued on March 7 to protect the rights of crypto miners.

The bill would not allow states and political subdivisions to stop working on cryptocurrency mining nodes. The bill outline states:

“The ‘Digital Asset Mining Protection Act’ ‘prevents states and political subdivisions from banning the execution of a node or series of nodes for the purpose of home digital asset mining'”

The bill would ensure cryptocurrency mining companies are subject to the same laws as other companies, preventing specific laws from targeting them. The main purpose is to prevent energy companies from applying discriminatory tax rules to mining companies.

The bill also requires states to give “adequate notice” before adjusting rules related to cryptocurrency mining. Not surprisingly, the bill legalizes cryptocurrency mining and allows institutions to participate in mining activities within zones approved for industrial use.

invoice passed it It was voted 12-0 unanimously in favour, securing the support of both Democrats and Republicans. However, this is a revised version of the bill, which means it must pass through a Missouri House committee before it can move to the Senate. report.

mining in the usa

The United States is one of the leaders in cryptocurrency mining. According to October 2022 data, her two mining pools in the US, Foundry and Antpool, account for over 51% of the global hashrate. With more than 30 of her mining companies within its borders, Texas has made a name for itself as the nation’s mining hub.

The latest development on the mining frontier in the United States has come from Mississippi. In February, the Mississippi Senate passed a bill legalizing Bitcoin (BTC) mining in the state. Like the Missouri law, the Mississippi bill also ensured that mining companies would not be subject to any form of discrimination.

A contrasting stance on mining comes from New York in June 2022.New York Senate passed it Bill to ban new Proof of Work (PoW) mining operations from starting for three years.

index (2)

About Us

Coingeography is a principal independent digital media resource with a coverage of comprehensive news on Crypto assets, NFT, Metaverse and the surging Web 3 space. We here deliver the most authentic and precise news from the arena of the Web 3 space and crypto assets. 

Feature Posts

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Copyright ©️ All rights reserved. | CoinGeography – Powered by Corum8