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Missouri has emerged as a leader in cryptocurrency advocacy, especially notable after the challenges of the 2022 ‘crypto winter’ that saw major upheavals including the collapse of FTX. The state’s progressive stance is highlighted by the recent passage of the Blockchain Basics Act (House Bill 2107) on February 13, 2024. This act is a bold statement, guaranteeing the rights to buy, self-custody, and mine cryptocurrencies, amidst a backdrop where U.S. politicians are increasingly recognizing the potential of digital currencies, even accepting them as campaign donations.
The legislation stands out by setting clear definitions for key blockchain concepts and prohibiting unfair practices, such as additional taxes on crypto transactions and discriminatory utility rates for miners. This move by Missouri, backed by the Satoshi Action Fund, not only protects crypto enthusiasts but also paves the way for similar initiatives in Nebraska and eleven other states. It signifies a significant shift towards embracing the future of digital assets in the U.S., reinforcing Missouri’s position at the forefront of the cryptocurrency movement.
