The "Financial Freedom and Innovation Act" seeks to update Montana's cryptocurrency laws by prohibiting the use of central bank digital currency (CBDC) by governing authorities and promoting the acceptance of digital assets and blockchain protocols. The bill explicitly states that governing authorities cannot accept or require payments in CBDC and are barred from participating in any federal CBDC testing. It also allows individuals and businesses to accept digital assets as payment and utilize self-hosted or hardware wallets without restrictions. Additionally, the bill outlines permitted activities related to blockchain protocols, such as operating nodes and transferring digital assets.

The legislation introduces certification requirements for issuers of network tokens, mandating that they provide detailed information to the commissioner prior to offering or selling tokens. It establishes securities exemptions related to staking services and sets an annual sales limit for network tokens at $250 million, with provisions for adjustments. Key amendments include the insertion of provisions for transactions by network token issuers and foreign corporations that have previously issued network tokens, as well as various exemptions for securities transactions. Overall, the bill aims to foster innovation in the financial sector while ensuring regulatory oversight.

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