SECONDREGULARSESSION
HOUSEBILLNO.2107
102NDGENERALASSEMBLY
INTRODUCEDBYREPRESENTATIVECHRISTOFANELLI.
3683H.01I DANARADEMANMILLER,ChiefClerk
ANACT
Toamendchapter67,RSMo,byaddingtheretoonenewsectionrelatingtodigitalassets.
BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows:
SectionA.Chapter67,RSMo,isamendedbyaddingtheretoonenewsection,tobe
2knownassection67.2060,toreadasfollows:
67.2060.1.Thissectionshallbeknownandmaybecitedasthe"Blockchain
2BasicsAct".
3 2.Asusedinthissection,thefollowingtermsmean:
4 (1)"Blockchain",datathatis:
5 (a)Sharedacrossanetworktocreatealedgerofverifiedtransactionsor
6informationamongnetworkparticipantslinkedusingcryptographytomaintainthe
7integrityoftheledgerandtoexecuteotherfunctions;and
8 (b)Distributedamongnetworkparticipantsinanautomatedfashionto
9concurrentlyupdatenetworkparticipantsonthestateoftheledgerandanyother
10functions;
11 (2)"Blockchainprotocol",anyexecutablesoftwaredeployedtoablockchain
12composedofsourcecodethatispubliclyavailableandaccessibleincluding,butnot
13limitedto,asmartcontractoranynetworkofsmartcontracts;
14 (3)"ConsumerPriceIndex",theConsumerPriceIndexforAllUrban
15Consumers(CPI-U),1982-1984=100,notseasonallyadjusted,asdefinedandofficially
16recordedbytheUnitedStatesDepartmentofLabor,oritssuccessoragency,from
17JanuaryfirstofthecurrentyearcomparedtoJanuaryfirstoftheprecedingyear;
EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis
intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 18 (4)"Digitalasset",virtualcurrency,cryptocurrencies,nativelyelectronicassets
19including,butnotlimitedto,stablecoinsandnonfungibletokens,andotherdigital-only
20assetsthatconfereconomic,proprietary,oraccessrightsorpowers;
21 (5)"Digitalassetmining",usingelectricitytopoweracomputerornodeforthe
22purposeofsecuringablockchainnetwork;
23 (6)"Digitalassetminingbusiness",agroupofcomputersworkingthat
24consumesmorethanonemegawattofelectricityforthepurposeofsecuringa
25blockchainprotocol;
26 (7)"Discriminatoryrates",thechargingofratesforelectricitythatare
27substantiallydifferentfromtherateschargedforotherindustrialusesofelectricityin
28similargeographicareas;
29 (8)"Homedigitalassetmining",digitalassetmininginanareazonedfor
30residentialuse;
31 (9)"Node",acomputationaldevicethatcontainsandupdatesacopyofa
32blockchain;
33 (10)"Self-hostedwallet",adigitalinterfaceusedtosecureandtransferdigital
34assetsunderwhichtheownerofthedigitalassetretainsindependentcontroloverthe
35digitalassetsthataresecuredbysuchdigitalinterface;
36 (11)"Staking",usinganodetolockdigitalassetsinordertooperatethe
37consensusmechanismofablockchainprotocol.
38 3.Thestateshallnotprohibit,restrict,orotherwiseimpairtheabilityofan
39individualto:
40 (1)Usedigitalassetstopurchaselegalgoodsorservices;or
41 (2)Self-custodydigitalassetsusingaself-hostedwalletorthird-partywallet.
42 4.Digitalassetsusedasamethodofpaymentshallnotbesubjecttoany
43additionaltax,withholding,assessment,orchargebythestateorapoliticalsubdivision
44thatisbasedsolelyontheuseofthedigitalassetasthemethodofpayment.
45 5.Digitalassetsusedasamethodofpaymentshallnotbesubjecttocapitalgains
46taxsubjecttoatwo-hundred-dollarlimitpertransaction.Thelimitationamountshall
47beadjustedforinflationonJanuaryfirstannuallybasedonthepercentageincreasein
48theConsumerPriceIndex.Thissubsectionshallnotbeconstruedtoprohibitthestate
49orapoliticalsubdivisionfromimposingorcollectingatax,withholding,assessment,or
50chargethatwouldotherwisebeofferedifthetransactionhadtakenplacewithUnited
51Stateslegaltender.
52 6.(1)Neitherthestatenorapoliticalsubdivisionthereofshallprohibitan
53individualfromparticipatinginhomedigitalassetminingaslongassuchindividual
54complieswithalllocalnoiseordinances.
HB2107 2 55 (2)Nopoliticalsubdivisionshallplaceanyspecificlimitonsounddecibels
56generatedfromhomedigitalassetminingthatismorerestrictivethanotherlimitsset
57forsoundpollutionenforcedbythepoliticalsubdivision.
58 7.(1)Neitherthestatenorapoliticalsubdivisionthereofshallprohibitadigital
59assetminingbusinessfromoperatinginanyareazonedforindustrialuse.
60 (2)Nopoliticalsubdivisionshallplaceanyspecificlimitonsounddecibels
61generatedfromadigitalassetminingbusinessthatismorerestrictivethanothergeneral
62limitssetforsoundpollutioninareaszonedforindustrialuse.
63 8.Nopoliticalsubdivisionshallimposeanyrequirementonadigitalassetmining
64businessthatisnotalsoarequirementfordatacentersinitsjurisdiction.
65 9.Nopoliticalsubdivisionshallchangethezoningofadigitalassetmining
66businesswithoutsatisfyingpropernoticeandcommentrequirements.Adigitalasset
67miningbusinessshallbeabletoappealachangeinzoningtoacourtwithproper
68jurisdiction.Ajudgeshallfindaviolationofthissectionandnullifysuchachangein
69zoningifthejudgedeterminesthechangewasdonetodiscriminateagainstadigital
70assetminingbusiness.
71 10.Thepublicservicecommissionshallnotestablisharateschedulefordigital
72assetminingthatcreatesdiscriminatoryratesfordigitalassetminingbusinesses.
73 11.Anyoneengagedinhomedigitalassetminingoradigitalassetmining
74businessshallnotbeconsideredamoneytransmitterundersections361.700to361.727.
75 12.Thestateshallnotprohibitanindividualfrom:
76 (1)Operatinganodeforthepurposeofconnectingtoablockchainprotocolora
77protocolbuiltontopofablockchainprotocolandtransferringdigitalassetsona
78blockchainprotocol;or
79 (2)Participatinginstakingonablockchainprotocol.
80 13.Anindividualorbusinessoperatinganodeoraseriesofnodesona
81blockchainprotocolshallnotberequiredtoobtainamoneytransmitterlicenseunder
82sections361.700to361.727toengageinsuchactivity.
83 14.Nobusinessofferingtoprovidedigitalassetminingorstakingservicesfor
84individualsortootherbusinessesshallbeconsideredasofferingasecurityor
85investmentcontractunderstatelaw.
86 15.Notwithstandinganyotherprovisionoflawtothecontrary,noindividualor
87entityshallfaceliabilityrelatedtoaspecifictransactionmerelybyvalidatingsuch
88transactionifsuchindividualorentity:
89 (1)Engagesindigitalassetmining;
90 (2)Operatesanodeorseriesofnodesonablockchainnetwork;or
HB2107 3 91 (3)Providesdigitalassetminingorstakingservicesforindividualsorother
92businesses.
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HB2107 4