The U.S. state of Missouri passed the “Digital Asset Mining Protection Act” on March 7 to protect the rights of crypto miners.
The measure prohibits local units and states from stopping crypto mining nodes from working. According to the bill’s summary:
“The Digital Asset Mining Protection Act precludes the state and political subdivisions from prohibiting the running of a node or series of nodes for the purpose of home digital asset mining,”
By ensuring that cryptocurrency mining operations are governed by the same regulations as other enterprises, the measure prevents targeted legislation against them. It primarily aims to prevent energy companies from applying discriminatory tax rules to mining corporations.
The bill also demands the state to give “due notice” before making amendments to the rules connected to crypto mining. Clearly, this bill makes cryptocurrency mining legal and permits institutions to engage in mining operations in areas designated for industrial usage.
With a unanimous vote of 12 to 0 in favor, the law was approved with the backing of both Democrats and Republicans. Nevertheless, since this is a modified version of the legislation, the Missouri House committee must approve it before it can be sent to the Senate, according to Blockwork.
U.S. Mining Industry
One of the top nations in cryptocurrency mining is the U.S. Around 51% of the world’s hash rate is accounted for by two American mining pools, Foundry and Antpool, according to data from October 2022.
Texas stands out as the nation’s mining capital, with more than 30 mining corporations operating within its boundaries. The most recent mining-related development in the United States originated in Mississippi.
The Mississippi Senate authorized Bitcoin (BTC) mining in the state in February by passing a piece of legislation. Mississippi’s law made sure that mining businesses weren’t subject to any discrimination, much like Missouri’s Act did.
In June 2022, a different perspective on mining arrived from New York. A measure that prohibits the launch of any new proof-of-work (PoW) mining operations for three years was approved by the New York senate.
