Mississippi senate passes bill to protect cryptocurrency miners from discrimination

The American state of Mississippi is one step nearer to defending the rights of cryptocurrency miners after the state senate passed the Mississippi Digital Asset Mining Act on Feb. 8. There’s a companion invoice into consideration within the state home of representatives. 

The senate invoice, authored by state Sen. Josh Harkins, legalizes residence digital asset mining and the operation of mining companies in areas zoned for industrial use. There are already crypto miners working in Mississippi, which has among the lowest electrical energy charges within the nation. Nevertheless, the invoice claimed:

“Digital asset mining has usually confronted regulatory challenges on the state and native stage.”

As well as, the invoice prohibits limiting noise from residence mining past present limits, imposing necessities on miners past these domestically utilized to knowledge facilities or altering the zoning of a mining middle with out correct notification and a possibility to attraction. It prohibits the Public Service Fee from imposing discriminatory charges on mining companies and exempts residence and enterprise miners from cash transmitter standing.

The invoice additionally supplies the state with a authorized definition of “digital forex.”

Associated: Bitcoin worth is up, however BTC mining shares may stay weak all through 2023

Mississippi is without doubt one of the states the place the Satoshi Motion Fund has been energetic. Fund CEO Dennis Porter spoke at a gathering of the Mississippi Senate Finance Committee in January and mentioned the potential for crypto miners to make use of orphaned oil and fuel wells as an influence supply.

Each the senate and home payments point out orphan wells. The home invoice would arrange a state Digital Asset Mining Council that may take into account the usage of the wells as a mining energy supply and different points all year long. The home invoice has passed the Methods and Means Committee however has not been debated on the home flooring.

Mississippi’s laws contrasts with the two-year moratorium on crypto mining handed in New York and signed into regulation in November.

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