Introduction
Pennsylvania lawmakers have proposed a new bill that would reverse a previous ban on cryptocurrency mining in the state. The bill, which was introduced by Republican State Representative Jim Struzzi, aims to encourage cryptocurrency mining in Pennsylvania and boost the state’s economy.
Background
In June 2019, the Pennsylvania Public Utility Commission (PUC) issued an order that effectively banned cryptocurrency mining in the state. The order required all power companies to identify and shut off service to customers who were using power for cryptocurrency mining activities.
The PUC’s decision was met with widespread criticism from the cryptocurrency community and local lawmakers, who argued that the ban would stifle innovation and economic growth in the state.
The New Bill
The proposed bill, known as House Bill 1248, seeks to repeal the PUC’s previous ban on cryptocurrency mining and establish guidelines for the industry in Pennsylvania. The bill would require cryptocurrency mining operations to register with the state, and would impose minimum safety and environmental standards.
Representative Struzzi, who introduced the bill, said that he believes cryptocurrency mining can bring jobs and economic growth to Pennsylvania. “This is an opportunity for Pennsylvania to become a leader in the digital currency economy,” he said in a statement.
The Future of Cryptocurrency Mining in Pennsylvania
If the bill is passed, Pennsylvania would join a growing number of states that are actively encouraging cryptocurrency mining. States like Texas and Wyoming have implemented laws and regulations that make it easier for cryptocurrency miners to operate within their borders.
The proposed bill has yet to be voted on by the Pennsylvania House of Representatives. However, its introduction is a promising sign for the future of cryptocurrency mining in the state.
Conclusion
Pennsylvania lawmakers have proposed a new bill that would reverse a previous ban on cryptocurrency mining in the state. The bill, known as House Bill 1248, seeks to encourage cryptocurrency mining in Pennsylvania and boost the state’s economy. If passed, the bill would repeal the Pennsylvania Public Utility Commission’s previous ban on cryptocurrency mining and establish guidelines for the industry in the state.
