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 CBDC payments, nor can they engage in 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 act 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 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 act amends Section 30-10-105 of the Montana Code Annotated to clarify exemptions for certain transactions involving network tokens and introduces definitions for key terms related to digital assets and blockchain technology. Overall, the act aims to foster innovation in the digital asset space 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