Missouri Plans to Create Legal Framework for Crypto Mining

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Pro-Bitcoin advocacy group Satoshi Action Fund committed to educating policymakers in the United States regarding the benefits of Bitcoin (BTC) mining, announced that Missouri has passed a bill protecting the rights of crypto mining in the state. 

Bitcoin mining requires powerful computers to solve high computational puzzles, helping the protocol verify and confirm new transactions. Thanks to the Satoshi Action Fund, the state has now given crypto miners the power to operate efficiently in the jurisdiction without discrimination or attracting additional bills from energy providers. 

Missouri Passes Right to Mine Crypto Bill

In a Twitter announcement on March 7, 2023, the non-profit organization said the bill dubbed Digital Asset Mining Protection Act has passed through the committee, receiving support from Democrats and Republicans. 

The new legislation, which seeks to protect crypto mining activities in the state, was passed through a bipartisan bill with a unanimous vote of 12-0. It also forbids the state from taking any prohibited actions against corporate mining activities around the region. 

Furthermore, the bill protects crypto miners from discriminatory rates and charges from electricity providers, preventing “the state and political subdivisions from prohibiting the running of a node or series of nodes for the purpose of home digital asset mining.” 

The right-to-mine bill, introduced in January 2023, marks the state’s effort to provide clear regulations allowing its residents to engage with the asset class. 

New York Bans Crypto Mining 

Aside from Missouri, Mississippi is another American state making moves to regulate crypto mining. 

Last month, the Mississippi senate passed a bill awaiting House votes after the committee assigned to the drafted law approved an amended version. 

While these states are making positive progress toward accepting crypto mining, New York recently passed a bill prohibiting blockchain protocols from using the Proof-of-Work (PoW) algorithmic mechanisms to create blocks and confirm transactions from operating in the state. 

The New York House Committee disclosed that the legislation sought to disrupt mining operations that require using fossil fuel to conduct its activities. 

While the Senate and the environmental activists are concerned about the impact crypto mining has on the environment, a recent report from Bitcoin Mining Council shows that miners have adopted renewable energy to mine crypto. 

According to the report, 52% of the total energy used in Bitcoin mining comes from sustainable energy sources and has zero environmental effects. 

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