• Missouri passes the „Digital Asset Mining Protection Act“ to protect the rights of crypto miners.
• The bill prevents state and political subdivisions from prohibiting the running of a node or series of nodes for home digital asset mining.
• The bill ensures that existing crypto-mining companies are subject to the same laws as other businesses, and mandates the state to give „proper notice“ before making adjustments to rules related to crypto mining.
Missouri Passes Crypto Mining Protection Law
The U.S. state of Missouri passed a new law titled “Digital Asset Mining Protection Act” on March 7th, 2021 in order to protect crypto miners from discrimination by energy companies. This act ensures that existing crypto-mining companies are held under the same regulations as other businesses and will prevent any state or political subdivision from halting their work, allowing them to maintain a node or series of nodes for home digital asset mining.
What Does This Bill Do?
This new law will ensure that no specific laws can target crypto-mining companies, while also mandating that proper notice is given before making adjustments to rules related to crypto mining in the future. Furthermore, this bill legalizes crypto mining within industrial zones, allowing institutions within these zones to participate in such activities with ease.
How Was It Received?
The bill was passed with unanimous support from both Democrats and Republicans alike (12 votes in favor), which demonstrates just how much importance is placed on protecting miners’ rights by legislators at this point in time. However, it still needs approval from the Missouri House committee before it can move forward into Senate voting stages.
Mining Across The U.S.
Currently two mining pools based out of the United States (Foundry & Antpool) account for 51% of global hash rate – demonstrating just how important an industry this is becoming across America as well as worldwide! Texas even hosts over 30 different cryptocurrency mining entities within its borders – showing just how powerful a hub it has become for miners looking for success without discrimination or legislative backlash against them.
Recent Developments Regarding Mining
In February 2021 Mississippi senate passed a legislative bill which would allow Bitcoin (BTC) mining inside their own state too; similarly protecting miners against any form of discrimination they may otherwise face should they choose Mississippi as their base location! On the flip side however; New York have recently implemented bans on any prospective proof-of-work (PoW) operations commencing over the next three years – meaning that despite some states’ open arms regarding miners; others are still against them due to high energy costs associated with this form of activity amongst other reasons!