Missouri Moves Closer to Legally Protecting Crypto Mining

The bill, introduced in January 2023, is similar to a measure making its way through the Mississippi state legislature

article-image

GreenBelka/Shutterstock.com modified by Blockworks

share

In a win for crypto miners, a bill to protect home and corporate mining operations has passed its committee vote and moves forward in the Missouri state government. 

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,” according to the bill summary. It also limits prohibitive actions the state can take against corporate mining businesses. 

An amended version of the bill passed the Missouri House committee Tuesday and will next be put up for vote on the House floor before moving to the Senate, if passed. 

The bill protects crypto mining businesses by ensuring that the state can only enforce data center requirements other businesses adhere to; meaning crypto companies cannot be singled out by laws. The state is also prohibited from changing bitcoin mining zoning requirements without “proper notice.” 

The bill, introduced in January 2023, is similar to a measure making its way through the Mississippi state legislature. Mississippi’s bill also makes home mining legal and allows corporate operations to operate in zones approved for industrial use. 

The Mississippi Senate passed the bill in February 2023 and will now be voted on in the House. The House committee assigned to the bill already approved an amended version of the text. 

New York recently passed a law to ban proof-of-work mining in the state. Environmental groups who lobbied for the law claim that cryptocurrency mining operations will prevent New York from reaching its goals to reduce carbon emissions.

“The intention of the [law] is to prevent new mining operations that would draw power from fossil fuel generation, even if it’s partial,” John Olsen, the New York state lead at crypto lobbyist Blockchain Association, said. “The impact, though, is really just economic in the sense that good paying jobs are going to be going to other states, and mining operations that would face less regulatory scrutiny, in terms of environmental impact, would be setting up shop [in another state.]”

The state-level efforts come as crypto regulation continues to ramp up across the US. Congressional leaders and federal agencies however seem to be more concerned about token classification and stablecoin legislation, based on current bills and enforcement actions.


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

ao cover.jpg

Research

Arweave recently launched the testnet for AO computer, a new messaging protocol that will sit atop a PoS network and aims to become a scalable global compute platform through parallel processing and modularity.

article-image

The “fastest-growing ETF in history” has seen net inflows on every trading day since its Jan. 11 launch

article-image

Relm and Chainproof will provide insurance quotes to distributed validators

article-image

DLC.Link uses a Taproot-based Bitcoin multisig to let institutions mint dlcBTC, starting on Arbitrum

article-image

Pre-seed Bitcoin startup deals rose 360% in 2023, a TVP report shows

article-image

Circle’s new smart contract to allow holders of BlackRock USD Institutional Digital Liquidity Fund to redeem shares for its stablecoin

article-image

Uniswap says it was not surprised to receive a Wells notice given the SEC’s “abusive” use of power as of late