The "Financial Freedom and Innovation Act" seeks to update Montana's cryptocurrency laws by prohibiting governing authorities from using central bank digital currency (CBDC) and allowing the acceptance of digital assets and blockchain protocols. The bill explicitly states that governing authorities cannot accept or require CBDC payments and cannot engage in federal CBDC testing. It also ensures that individuals and businesses can freely accept digital assets as payment and utilize self-hosted or hardware wallets. Additionally, the bill outlines permitted activities related to blockchain protocols, such as operating nodes and transferring digital assets.

Furthermore, the bill introduces certification requirements for network token issuers, mandating them to provide detailed information to the commissioner before offering or selling tokens. It includes provisions for securities exemptions related to staking services and sets an annual sales limit for network tokens at $250 million, with potential adjustments. The bill amends Section 30-10-105 of the Montana Code Annotated to incorporate these changes, ensuring compliance with specific regulations while promoting innovation in the digital asset sector. Notably, it inserts new legal language to facilitate transactions by network token issuers and updates definitions and requirements surrounding securities transactions to align with the new digital asset framework.

Statutes affected:
LC Text: 30-10-105
SB0265_1(1): 30-10-105
SB0265_1(2): 30-10-105
SB0265_1(3): 30-10-105
SB0265_1(4): 30-10-105
SB0265_1(5): 30-10-105
SB0265_1(6): 30-10-105
SB0265_1: 30-10-105
SB0265_2(1): 30-10-105
SB0265_2(10): 30-10-105
SB0265_2(11): 30-10-105
SB0265_2(12): 30-10-105
SB0265_2(13): 30-10-105
SB0265_2(14): 30-10-105
SB0265_2(2): 30-10-105
SB0265_2(3): 30-10-105
SB0265_2(4): 30-10-105
SB0265_2(5): 30-10-105
SB0265_2(6): 30-10-105
SB0265_2(7): 30-10-105
SB0265_2(8): 30-10-105
SB0265_2(9): 30-10-105
SB0265_2: 30-10-105
SB0265_X(1): 30-10-105
SB0265_X(2): 30-10-105
SB0265_X(3): 30-10-105
SB0265_X(4): 30-10-105
SB0265_X(5): 30-10-105
SB0265_X: 30-10-105