Mississippi moves closer to securing cryptocurrency miners’ rights


The state of Mississippi is getting nearer to guaranteeing the privileges of digital money miners following the Mississippi Digital Asset Mining Act passing in the state Senate on Feb. 8. The House of Representatives is additionally considering a related bill.

Sen. Josh Harkins proposed the bill, which permits home digital money mining and the activity of mining organizations in territories zoned for mechanical use. Mississippi is home to various crypto miners, offering some of the most minimal power rates in the nation. The bill claimed:

“Digital asset mining has often faced regulatory challenges at the state and local level.”

The bill further forbids confining the commotion from home mining past existing cutoff points, applying extra necessities to miners past those connected to information focuses, and changing the zoning of a mining office without suitable notification and a chance to allure.

It also keeps the Public Service Commission, which controls utilities, from forcing particular rates on mining organizations and absolves home and business miners from cash transmitter status. Moreover, the bill gives the state a lawful meaning of “computerized money.”

Related: Bitcoin cost is up, however BTC mining stocks could stay vulnerable all through 2023

The Satoshi Action Fund has been occupied with Mississippi, with CEO Dennis Porter tending to a gathering of the Mississippi Senate Finance Committee in January. He mentioned the potential for crypto miners to use relinquished oil and gas wells as a power source.

The Senate and House bills reference orphan wells. The House bill would set up a state Digital Asset Mining Council to consider the utilization of the wells as a mining power source and different issues for the duration of the year. The House bill has passed the Ways and Means Committee yet has not been talked about on the House floor.

Mississippi’s enactment stands apart from the two-year prohibition on crypto mining passed in New York and marked into law in November.

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