The state of North Dakota is taking a proactive approach to protecting the rights of Bitcoin miners and holders, with a new bill introduced by Representative Nathan Toman. The bill aims to uphold four key principles related to Bitcoin rights, including the right to mine Bitcoin, the right to have self-custody over Bitcoin, the right to perform peer-to-peer transactions, and the right to run a Bitcoin node.
This move comes as part of a larger trend of states in the U.S. taking steps to protect the rights of Bitcoin users. Dennis Porter, CEO of the Satoshi Action Fund, has been at the forefront of introducing bills in various states that support Bitcoin holder rights and promote strategic Bitcoin reserves. In Montana, for example, a bill was introduced allowing the state to invest up to $50 million in Bitcoin, digital assets, stablecoins, or precious metals. In Mississippi, legislation was passed to protect the right to mine Bitcoin and other digital assets, as well as the rights of node operators.
However, not all states have been as welcoming to cryptocurrency mining. New York and Arkansas have both introduced bills that could potentially limit or ban cryptocurrency mining operations. In New York, Governor Kathy Hochul signed a bill banning Bitcoin mining operations powered by carbon-based energy for a period of two years.
Overall, the trend in the U.S. seems to be moving towards greater acceptance and support for Bitcoin and other cryptocurrencies. With states like North Dakota taking proactive steps to protect the rights of Bitcoin users, it is clear that the cryptocurrency industry is becoming more mainstream and accepted in the country.