This bill aims to revise existing cryptocurrency laws by introducing several key provisions. It prohibits discriminatory utility rates for digital asset mining, ensuring that all miners are treated equally in terms of utility costs. Additionally, the bill restricts local governments from exercising powers related to digital asset mining, thereby centralizing regulatory authority. It also establishes that cryptocurrency cannot be taxed when used as a payment method, further promoting its use in transactions.

Furthermore, the bill classifies digital assets as personal property, providing a clear legal framework for their ownership and transfer. It amends specific sections of the Montana Code Annotated (MCA) to reflect these changes and establishes an immediate effective date for the new regulations. Overall, the legislation seeks to create a more favorable environment for cryptocurrency and digital asset activities within the state.

Statutes affected:
SB0178_1.pdf: 7-1-111, 15-1-101, 70-1-108
SB0178_2.pdf: 7-1-111, 15-1-101, 70-1-108
SB0178_3.pdf: 7-1-111, 15-1-101, 70-1-108
Amended: 7-1-111, 15-1-101, 70-1-108
Introduced: 7-1-111, 15-1-101, 70-1-108