Key Points
- North Dakota is introducing a bill to protect the rights of Bitcoin miners and holders.
- The bill upholds four main principles, including the right to mine Bitcoin and have self-custody over it.
Dennis Porter, CEO of Satoshi Action Fund, has disclosed that North Dakota has proposed a law to secure the rights of Bitcoin miners and holders.
This information was shared by Porter on January 31st, stating that the bill was introduced by North Dakota Representative Nathan Toman.
The Four Principles of the Bill
The proposed legislation, according to Porter, is designed to uphold four main principles related to Bitcoin rights.
These principles are the right to mine Bitcoin, the right to self-custody Bitcoin, the right to execute peer-to-peer transactions, and the right to operate a Bitcoin node.
Over the years, Porter has played a significant role in proposing bills in key U.S. states that protect Bitcoin holder rights and establish strategic Bitcoin reserves.
Previous Bills Introduced
Porter previously revealed that a bill was introduced in Montana that would allow the state to invest in up to $50 million worth of Bitcoin, digital assets, stablecoin, or precious metals.
This bill was introduced by Rep. Lammers and co-sponsored by Rep. Schomer.
In May 2023, a bill was proposed and signed in Montana, known as S.B. 178, to protect the rights of citizens to mine cryptocurrency.
This legislation prevents municipalities in Montana from prohibiting Bitcoin mining.
In February 2023, Mississippi passed a series of bills, including one titled “Right to Mine” which would protect the right to mine Bitcoin and other digital assets.
This bill also served to protect the rights of node operators in the state.
New York and Arkansas are the only known U.S. states that have attempted to restrict or completely ban cryptocurrency mining.
In April 2024, two of the eight bills introduced to the Arkansas State House could potentially limit crypto mining in the state.
Back in 2022, New York Governor Kathy Hochul signed a bill banning Bitcoin Mining operations powered by carbon-based energy for a duration of two years.