Bill > SB309

This bill, known as the "Blockchain Basics Act", establishes comprehensive provisions for digital assets and blockchain technology in Missouri. The legislation defines key terms like digital assets (including cryptocurrencies and nonfungible tokens), blockchain, and digital asset mining, and provides broad protections for individuals and businesses engaging with these technologies. The bill prevents the state and local governments from prohibiting or excessively restricting digital asset activities, such as using digital assets for purchasing goods, self-custodying assets in wallets, and participating in home or industrial digital asset mining. It offers tax benefits by limiting capital gains tax on digital asset transactions and prevents additional taxes solely based on using digital assets as payment. The bill also protects digital asset mining businesses by preventing discriminatory zoning changes, sound restrictions, and utility rate structures, and ensures that node operators, blockchain protocol participants, and those offering mining or staking services are not classified as money transmitters or considered as offering securities. Additionally, it shields individuals and entities from liability when validating transactions through mining or operating blockchain nodes, providing a legal framework that encourages innovation and protects participants in the digital asset ecosystem.

Business and Industry

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=219