U.S. politicians discussed the necessity of outlawing cryptocurrencies in the nation after a wave of bankruptcies and fraud disclosures that characterized the “crypto winter” of 2022 and culminated in the demise of FTX, once one of the biggest cryptocurrency exchanges globally.
Stay in the know on crypto by frequently visiting Crypto News Today
Several states, like as Missouri, Arkansas, and Montana, among others, began drafting and enacting legislation to protect the rights of cryptocurrency miners in 2023. The main goal of the laws at the time was to stop discrimination in areas like utility access.
The market and community for cryptocurrencies had mostly moved on by early 2024, thanks to developments like the upcoming Bitcoin halving, the approval of spot Bitcoin (BTC) exchange-traded funds (ETFs), and more. American politicians had also become noticeably more accepting of cryptocurrencies, accepting some as contributions for their presidential campaigns.
Still, states continue to strive toward enshrining the rights to engage in cryptocurrency-related activities, and Missouri seems to be at the forefront of this effort, despite the persistence of some crypto hardliners such as Elizabeth Warren.
The Missouri ‘Blockchain Basics Act’
House Bill 2107, the Blockchain Basics Act, was enacted by the Missouri legislature on Tuesday, February 13. Its purpose is to protect the freedom to purchase, hold, and mine Bitcoin and other cryptocurrencies.
The law specifies terminology like blockchain, blockchain protocol, node, staking, discriminatory rates, digital asset, and digital asset mining in more detail. It also precludes the levying of additional taxes on transactions involving cryptocurrencies.
Perhaps more significantly, the bill states that miners cannot be charged differently for services like electricity because of their work and prohibits the government from restricting their ability to use coins and tokens in transactions—as long as those transactions are lawful—and to self-custody said assets.
The bill, championed with support from the Satoshi Action Fund – an advocacy organization dedicated to advancing the rights of individuals interested in cryptocurrencies – was crafted through active collaboration with state representatives and broad engagement with the community via mass communication platforms such as X to garner support for pro-cryptocurrency measures.
Similar legislation is also being pursued in Nebraska and eleven other states.
We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism.
From Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.
And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.
When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble.
Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.
We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.
Thank you.
Kristin Steinbeck
Editor, CryptoCaster
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt
CRYPTOCASTER HEATMAP
