Montana Bill for the classification of crypto as personal property, approved by the House of Reps

Montana Bill for the classification of crypto as personal property, approved by the House of Reps

The draft law, which describes digital assets as "personal property", passed the third reading in the House of Representatives of Montana.

The draft law, which also aims to promote the operation of local cryptocurrencies, must receive green light from the governor of the state-Greg Gianforte-to officially come into force.

One step closer

After receiving the approval of the Senate at the end of February, bill no. 178 recently existed votes votes and 35 No votes. The fourth and last step before it becomes official is the signature of governor Greg Gianforte.

It is worth noting that the politician and state senator Daniel Zolnikov (supporter of legislation) both belong to the Republican Party.

The draft law aims to ban the taxation of crypto transactions as a means of payment. It also classifies digital assets (including stable coins and NFTs) as "personal property".

Another goal of montana's possible legislation is to ban discriminatory energy tariffs that are charged crypto miners. Such companies that work within the state borders receive certain advantages and reduced control, which is imposed by government agencies.

"The state of Montana wants to protect the right of individuals and companies, to reduce 16 digital assets, and create legal certainty for the digital asset mining industry. Digital asset mining has the potential to stabilize the network and to achieve income for 18 infrastructure upgrades throughout the state", it is said in that Document.

Which US states march towards crypto?

Texas, which has developed into a crypto mining center in the United States, is one of the friendly places. The large area of ​​the country, the favorable climatic conditions and the relatively low electricity costs have attracted numerous industry players to settle there. As cryptopotato reported In the summer of 2021, some Chinese Miner Texas considered the next possible goal after all cryptooperations had been fully banned.

In addition, the Junior Senator of the United States for Texas-Ted Cruz-is a pronounced supporter of Bitcoin. arguing it offers people financial freedom because governments cannot control it.

Arizona is another region in which BTC could thrive. State Senator Wendy Rogers suggested an invoice from last year to make the asset into an official payment method. The politician previously expressed intentions to transform the state of Grand Canyon into a "crypto -friendly" territory.

Florida also finds a place on this list. Governor Rob Desantis called at the end of 2021 the local authorities should enable companies to pay their state taxes in digital assets instead of in Fiat. The 44-year-old Republican, who may be running for the United States President's Office next year, was recently published to create a digital dollars.

He believes that such a money product could act as a surveillance tool and suggested that it to be completely forbidden on Florida's territory.

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