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Montana Bill Classifying Crypto as Personal Property Approved by House of Reps

Montana's House of Representatives has passed draft legislation that designates digital assets, including stablecoins and NFTs, as "personal property" and aims to foster the operations of local cryptocurrency miners. The bill also prohibits the taxation of crypto transactions used as a means of payment and aims to ban discriminatory energy rates for crypto miners. The legislation needs to receive approval from Montana's governor, Greg Gianforte, to become official. Other US states such as Texas, Arizona, and Florida have also shown interest in becoming crypto-friendly territories, with some proposing bills to make Bitcoin an official payment method and enable businesses to pay state fees in digital assets. (cryptopotato)

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