In this article I will try to outline the most important bills and legislation affecting bitcoin.
The most developed nation worldwide is the United States so we will start there:
Bills in the United States
In order for a bill to become legislation it has to be passed in both the state house and the state senate, then approved by the state governor. The house is not subordinate to the senate so the bill can first be voted in either of the two, but has to be approved by both chambers before transmitting to the state governor. If vetoed by the governor it gets returned for another vote
SB 2603 Mississippi – gives the right to mine bitcoin, Dennis Porter from Satoshi Action Fund was heavily involved in drafting the bill. As of May 3rd 2023 – passsed in the senate, rejected in the house
SB 178 Montana – gives the right to mine bitcoin and prohibits taxation on the use of bitcoin for payments. Again Dennis Porter involvement. Signed into law in May 2023
HB 1799 Arkansas – gives the right to mine bitcoin. Again Dennis Porter involvement. Signed into law in April 2023
HB 764 Missouri – gives the right to mine bitcoin. Again Dennis Porter involvement. Passed by the house, but it was an amended bill hence has to be voted by the house committee before moving to the senate
HB 86 Wyoming – protects its citizens from having to disclose their private keys; signed into law in February 2023
SB 1751 Texas – removes tax abatements and restricts Bitcoin mining companies from participating in a state-run demand response program. This program rewards miners for giving power back to the grid when demand threatens to overwhelm the system unless the anticipated demand for electricity „is less than 10 percent of the total load required by all loads in the program“. Passed by the state senate in April 2023
SCR 1007 Arizona – proposal to make crypto a tax-exempt property; introduced in January 2023. Should the measure pass the legislature, voters could choose in November 2024 if cryptocurrencies will be tax-exempt
A 7389 New York – places a two-year moratorium on proof-of-work bitcoin mining; signed into law in November 2022
HB 230 Kentucky – tax exemption for bitcoin mining; signed into law in March 2021
North Carolina’s Buncombe County unanimously votes to ban bitcoin mining for one year on May 3rd 2023
Colorado Accepting Bitcoin for Tax Payments from September 2022
North, South and Central America (excluding USA)
El Salvador makes bitcoin legal tender
Honduran special economic zone adopts bitcoin as legal tender
Brazil’s Rio de Janeiro will accept crypto-payments for property taxes
Europe
Lugano, Switzerland makes bitcoin, tether legal tender and an update with merchant adoption
Portuguese archipelago of Madeira embracing bitcoin
Africa
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