- Several US states are taking important steps to regulate Bitcoin and cryptocurrency mining trying to have a soft and friendly stance for the industry.
Digital assets were on everyone’s lips last year, but unfortunately it was not because of their virtues, nor because of the various applications and services they provide, nor because of their high participation in the Super Bowl, but because of the series of catastrophes that occurred. surged in the industry, leading several companies to disappear while others found themselves needing to cut staff to survive and stay afloat in the crypto winter.
With the final blow of the bankruptcy of the FTX firm and the process that has followed after it, far surpassing the history of any melodrama or series and the already mentioned track record, it was more than enough to motivate, at least the American regulators, to take more rigorous measures regarding the regulation of Bitcoin and cryptocurrency mining.
About, various states of the American union led by Joe Biden, decided to implement a series of laws that protect the mining of digital assets. To name a few, Mississippi, Oklahoma, Montana, and Missouri are listed.
It is evident then that in USA the laws are changing at the rate of the miners trying to have a soft and friendly stance with the focus of getting the industry regulated.
Mountain
One of the states that have modified their laws in relation to crypto mining is Montana, as a law was recently passed to protect Bitcoin mining operations.
Said change in the legislation is relevant, since it allows digital assets to be given a legal framework of mobility, in which mining operations can be carried out in a better way, in addition to granting them greater stability.
Thus, The state of Montana has made clear its ongoing commitment to support while regulating the gas industry. digital assets. This new legislature grants clarity and certainty to mining operations, which is of great help as it allows investment decisions to be made with confidence.
Likewise, it is a stimulus to attract new business and investment to the state, as companies begin to take advantage of the favorable mining environment.
Oregon
Montana is not the only state as already mentioned with legislatures related to cryptocurrencies. In Oregon, For example, the bill 2816 The objective of the House of Representatives is to extend emission controls to high-load public service customers, owned by consumers who are also the providers of crypto mining operations as well as data centers.
This is because the current laws only apply to investor-owned public service consortiums, such as Portland General Electric and PacifiCorp, as well as electricity service providers.
Washington
For his part, in Washington House Bill 1416 has the purpose of applying clean energy standards to similar clients of municipal and public services, which are currently excluded from the law.
These serve the majority of crypto mining operations, which are mostly located in central and eastern Washington.
Consequences of Bitcoin mining
It is relevant that actions are taken on the changes in legislatures related to crypto assets and mining, given that this activity consumes a huge amount of energy, which translates into a growth in electricity prices for everyone, including households. and the companies.
It is so, in In some cases, such as Montana, in order to respond to energy demand, it is necessary to make some adjustments, not only in the legislature, but also at the level of public works, having to transition their energy mix to cleaner, more sustainable sources.
However, it is important to say that this type of work requires, above all, time, in addition to an investment that makes it a reality, so that, as long as the change is not generated at a structural level, the places where the mining of crypto assets will continue to experience their negative impacts.
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