The Montana House of Representatives has approved the SB 265 bill known as the Financial Freedom and Innovation Act. This step places the state as one of the latest in legal protections for activities and rights related to Bitcoin (BTC).
Voting in the House of Representatives has earned a majority support, according to Bitcoinlaws, a follow-up portal for these projects. More than half of lawmakers support the initiative in the 70-29 results. On March 3, the Senate gave approval with 44 votes, reflecting a broad political consensus, giving approval to just six votes.
The already approved project establishes a comprehensive regulatory framework for Montana’s digital assets and Bitcoin technology. Protects rights such as cryptocurrency autocustody,nodes, digital mining, related software operations. Additionally, state authorities have banned the use or testing of digital central banks (CBDCs).
In its disposal, the project allows for the use of self-occustody wallets, staking and creating distributed networks. Promoting a favorable environment for technological innovation.
The approved law also introduces a certification process for network token issuers who must provide state securities commissioners. More information about the organizationtheir network functions, their governance structure, and associated risks.
Additionally, a $250 million annual limit for these tokens has been established, aiming to balance investor protection and entrepreneur flexibility, along with exemptions from the securities laws for certain digital asset services. Similarly, the law defines key terms such as blockchain, digital assets, and distributed networks. Provide legal clarity to ecosystem actors.
Montana regulations could be counterproductive for users as small entrepreneurs if they require a detailed authentication process for network token emitters and establish an annual sales limit of $250 million. Introduce bureaucracy to charge expensive management fees It hampers innovation and limits the growth of emerging projects despite it providing legal clarity and exemptions from securities law.
If already approved by legislative bodies, SB 265 is now referring to the office of Republican Governor Greg Gianforte. There is no specific date for this law, but according to the Montana Constitution, Gianforte There will be 10 business days after receiving the document to make a decision. Otherwise, it will be published without a signature.
Potential movements
Montana is not alone in this movement. States such as Kentucky have already consecrated their rights to Bitcoin, and as Crypto has reported, they have established legal precedents to protect activities such as their own responsibility and the use of cryptocurrency in transactions.
These laws reflect broader efforts in the United States to integrate cryptocurrencies into the financial system, and guarantee individuals’ rights to possible government restrictions. For example, Kentucky has explicitly protected the right to weaken Bitcoin and operate nodes.a model in which Montana will closely continue its new law.
Last week, Nuevo Hampshire took a similar step by approving the House of Representatives of HB 639, a Bitcoin Rights Act that also protects autocustody, mining and node operations, as reported in the medium.
This project Now he faces discussions in the Senate committee and votes all over Before it became law, it shows that the impulse to support Bitcoin rights continues to gain status in various parts of the North American country.
The same thing happened in Arizona. There, bill HB 2342 focused on protecting the right to undermine Bitcoin, was approved by the state Senate for 17 and 12 votes. The law is currently approved Now, hoping that Governor Katie Hobbs’ signature will become law.
However, approval in Montana stands out with its comprehensive approach that not only protects individual activities, but also creates a framework for token emissions and trade. It is not very common in other state laws.
As the SB 265 bill progresses towards Governor Greg Gianforte’s office, the eyes will be set in Montana to see if it will become a model to follow. Protection of individual rights and a A clear regulatory framework It could attract businesses and entrepreneurs in the cryptocurrency sector and strengthen the local economy.
Meanwhile, there is a continuing national debate on cryptocurrency, where states such as Montana, Kentucky and New Hampshire are leading key efforts to integrate these technologies into the legal system. A move that could affect the future direction of the federal government.
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