By George Ward
Mississippi Senate has approved a new law that creates a structure for safeguarding Bitcoin (BTC) miners within the state. The bill, referred to as the “Right to Mine,” will protect Bitcoin mining operations from discrimination within the state and acknowledges its potential to stimulate the economy and steady the energy grid.
Mississippi Approves Friendly Bill For BTC Mining
“The State of Mississippi permits individuals to run a node for personal crypto mining and to conduct a crypto mining business,” the bill states. Senator Josh Harkins is the bill’s sponsor, which adopted words from the Satoshi Action Fund, a non-profit organization established to educate regulators and policymakers on the potential of Bitcoin.
Dennis Porter, the founder of Satoshi Action Fund, emphasized that even though the bill has been approved, more work still needs to be accomplished.
“I am honored to have played a role in this landmark moment in Mississippi. Our journey is far from over. We must ensure that the House and the Governor approve this bill, but I, along with the Satoshi Action Fund, are ready to advocate for your right to mine Bitcoin and operate a node,” Porter tweeted.
Furthermore, the newly enacted law declares that it will be unlawful to differentiate energy tariffs targeted toward Bitcoin miners. Also, it prohibits the classification of BTC mining as a form of money transmission.
Importantly, Mississippi’s recent action highlights the increasing trend of states across the United States showing interest in embracing Bitcoin and incorporating it into their energy systems for their benefit. This recent development occurred when the United States was intensifying its efforts to regulate the cryptocurrency industry, with the topic of Bitcoin mining being a prominent point of discussion.
US Democrats Send Letter To EPA And DOE
Meanwhile, there is still disagreement regarding the potential energy usage by mining activities and its effect on the environment. According to reports, US Democratic leaders advocate for environmental regulatory agencies to force mining operators to reveal their energy usage and pollution levels.
The Democrats recently drafted a letter addressed to the Environmental Protection Agency (EPA) and the Department of Energy (DOE), urging them to expedite their plans to mandate crypto mining companies to reveal their energy usage and emission levels.
The letter states that these two agencies possess the unambiguous power to demand disclosures from crypto-mining companies. Also, it requests that the agencies establish a timeline to implement the request and gather the relevant information.
Nonetheless, another group of legislators has acknowledged Bitcoin’s capability to function as a means of exchange. Recently, the Arizona Senate presented a bill to establish Bitcoin as a legally recognized payment method.
If the legislation is approved, various state agencies in Arizona can use cryptocurrencies to pay fines, taxes, and other similar obligations.