Anti-Bitcoin mining bill gets unanimous approval from Texas Senate committee

A Texas Senate committee passed an anti-Bitcoin (BTC) mining bill on April 4, according to Satoshi Act Fund founder Dennis Porter.

The bill, sponsored by Texas Senator Lois Kolkhorst, passed without a single negative vote. saidThe fact that it received the unanimous support of the committee sparked rumors that it might also pass the Senate before moving to the House for a vote.

porter said:

“Unfortunately, members of the Commission were shaken by the influence of powerful bill sponsors.

There is talk that it could pass the Senate as well. To kill bills, it’s important to fight them back in the house. ”

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The bill in question is Senate Bill 1752, which seeks to overturn incentives designed to attract cryptocurrency miners to states. Mining power consumption in Texas has increased 75% in the last 12 months, largely due to state-run electricity demand response programs.

The program currently rewards miners for powering the grid when demand is high. If the bill is passed, miners will no longer be able to participate in this program. In addition to eliminating rewards, the bill also seeks to eliminate tax incentives and subsidies that currently favor cryptocurrency miners.

The anti-Bitcoin mining bill was unanimously approved by the Texas Senate Committee and first appeared on CryptoSlate.