Bitcoin policy advocates celebrated several victories in the recent quarter, including the success of Texas SB 1929, a pro-mining bill, and the defeat of Texas SB 1751, an anti-mining bill. VP of Research at Riot Platforms Pierre Rochard אויסגעדריקט דאנקבארקייט to everyone involved, stating, “Texas will continue to be #Bitcoin country!”
These legislative outcomes will contribute to the growth and stability of Bitcoin mining operations in Texas. As Brian Morgenstern, head of public policy at Riot Platforms געמאלדן, SB 1751 did not pass, ensuring the continuation of the state’s usage of Bitcoin miners’ flexibility in balancing and stabilizing the power grid.
In contrast, SB 1929 successfully passed, establishing a registration process for Bitcoin miners to share information with ERCOT, enhancing transparency and grid reliability. Additionally, HB 591 was approved, providing a tax incentive for utilizing gas that would otherwise be flared into the atmosphere for on-site Bitcoin mining, promoting emissions reduction.
אן אנדער וויכטיק אַנטוויקלונג איז געווען די דורכפאָר פון HB 1666, וואָס ינטראָודוסט אַ דערווייַז פון ריזערווז רעזשים, פּאַזישאַנינג טעקסאַס ווי אַ פירער אין בויען צוטרוי אין די דיגיטאַל אַסעט יקאָוסיסטאַם. די לעגיסלאַטיווע דערגרייכונגען פאַרטראַכטנ זיך די קאַלאַבערייטיוו השתדלות פון פאַרשידן סטייקכאָולדערז און ינדאַסטרי פּאַרטיסאַפּאַנץ, אַרייַנגערעכנט רייאַט פּלאַטפאָרמס, די טעקסאַס בלאָקקטשאַין קאָונסיל און די טשאַמבער פון דיגיטאַל האַנדל לויט Morgenstern.
In addition to these developments, public miner stocks also surged on the news that the U.S. debt ceiling deal may be finalized soon, and that it does not include President Joe Biden’s proposed 30% tax on energy used for Bitcoin mining.
While these successes mark important milestones, advocates acknowledge that their work is far from over. But the Bitcoin community remains optimistic about the future and the continued growth of the industry, with the positive outcomes achieved in Texas during this legislative session setting a favorable precedent for Bitcoin-related policies and innovation in the United States.
Source: https://bitcoinmagazine.com/legal/pro-bitcoin-legislation-reigns-victorious-in-texas-as-legislative-session-ends