Missouri 2025 Regular Session

Missouri Senate Bill SB309 Compare Versions

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Old	New	Differences
1	1
2	2	FIRST REGULAR SESSION
3	3	SENATE BILL NO. 309
4	4	103RD GENERAL ASSEMBLY
5	5	INTRODUCED BY SENATOR FITZWATER.
6	6	0627S.01I KRISTINA MARTIN, Secretary
7	7	AN ACT
8	8	To amend chapter 67, RSMo, by adding thereto one new section relating to digital assets.
9	9
10	10	Be it enacted by the General Assembly of the State of Missouri, as follows:
11	11	Section A. Chapter 67, RSMo, is amended by adding thereto 1
12	12	one new section, to be known as section 67.2060, to read as 2
13	13	follows:3
14	14	67.2060. 1. This section shall be known and may be 1
15	15	cited as the "Blockchain Basics Act". 2
16	16	2. As used in this section, the following terms mean: 3
17	17	(1) "Blockchain", data that is: 4
18	18	(a) Shared across a network to create a ledger of 5
19	19	verified transactions or information among network 6
20	20	participants linked using cryptography to maintain the 7
21	21	integrity of the ledger and to execute other functions; and 8
22	22	(b) Distributed among network p articipants in an 9
23	23	automated fashion to concurrently update network 10
24	24	participants on the state of the ledger and any other 11
25	25	functions; 12
26	26	(2) "Blockchain protocol", any executable software 13
27	27	deployed to a blockchain composed of source code that is 14
28	28	publicly available and accessible including, but not limited 15
29	29	to, a smart contract or any network of smart contracts; 16
30	30	(3) "Consumer Price Index", the Consumer Price Index 17
31	31	for All Urban Consumers (CPI -U) (1982-1984 = 100), not 18
32	32	seasonally adjusted, as def ined and officially recorded by 19 SB 309 2
33	33	the United States Department of Labor, or its successor 20
34	34	agency, from January first of the current year compared to 21
35	35	January first of the preceding year; 22
36	36	(4) "Digital asset", virtual currency, 23
37	37	cryptocurrencies, nativ ely electronic assets including, but 24
38	38	not limited to, stablecoins and nonfungible tokens, and 25
39	39	other digital-only assets that confer economic, proprietary, 26
40	40	or access rights or powers; 27
41	41	(5) "Digital asset mining", using electricity to power 28
42	42	a computer or node for the purpose of securing a blockchain 29
43	43	network; 30
44	44	(6) "Digital asset mining business", a group of 31
45	45	computers working that consumes more than one megawatt of 32
46	46	electricity for the purpose of securing a blockchain 33
47	47	protocol; 34
48	48	(7) "Discriminatory rates", the charging of rates for 35
49	49	electricity that are substantially different from the rates 36
50	50	charged for other industrial uses of electricity in similar 37
51	51	geographic areas; 38
52	52	(8) "Home digital asset mining", digital asset mining 39
53	53	in an area zoned for residential use; 40
54	54	(9) "Node", a computational device that does any of 41
55	55	the following: 42
56	56	(a) Communicates with other devices or participants on 43
57	57	a blockchain to maintain consensus and integrity of that 44
58	58	blockchain; 45
59	59	(b) Creates and validates transaction blocks; or 46
60	60	(c) Contains and updates a copy of a blockchain. 47
61	61	A node does not exercise discretion over transactions 48
62	62	initiated by the end user of the blockchain protocol; 49 SB 309 3
63	63	(10) "Self-hosted wallet", a digital interface used to 50
64	64	secure and transfer digital assets under which the owner of 51
65	65	the digital asset retains independent control over the 52
66	66	digital assets that are secured by such digital interface; 53
67	67	(11) "Staking", using a node to lock digital assets in 54
68	68	order to operate the consensus mechanism of a blockchain 55
69	69	protocol. 56
70	70	3. The state shall not prohibit, restrict, or 57
71	71	otherwise impair the ability of an individual to: 58
72	72	(1) Use digital assets to purchase legal goods or 59
73	73	services; or 60
74	74	(2) Self-custody digital assets using a self-hosted 61
75	75	wallet or third-party wallet. 62
76	76	4. Digital assets used as a method of payment shall 63
77	77	not be subject to any additional tax, withholding, 64
78	78	assessment, or charge by the state or a political 65
79	79	subdivision that is based solely on the use of the digital 66
80	80	asset as the method of payment. 67
81	81	5. Digital assets used as a method of payment shall 68
82	82	not be subject to capital gains tax subject to a two -hundred- 69
83	83	dollar limit per transaction. The limitation amount shall 70
84	84	be adjusted for inflation on January first annually based on 71
85	85	the percentage increase in the Consumer Price Index. This 72
86	86	subsection shall not be construed to prohibit the state or a 73
87	87	political subdivision from imposing or collecting a tax, 74
88	88	withholding, assessment, or charg e that would otherwise be 75
89	89	offered if the transaction had taken place with United 76
90	90	States legal tender. 77
91	91	6. (1) Neither the state nor a political subdivision 78
92	92	thereof shall prohibit an individual from participating in 79
93	93	home digital asset mining as lo ng as such individual 80
94	94	complies with all local noise ordinances. 81 SB 309 4
95	95	(2) No political subdivision shall place any specific 82
96	96	limit on sound decibels generated from home digital asset 83
97	97	mining that is more restrictive than other limits set for 84
98	98	sound pollution enforced by the political subdivision. 85
99	99	7. (1) Neither the state nor a political subdivision 86
100	100	thereof shall prohibit a digital asset mining business from 87
101	101	operating in any area zoned for industrial use provided they 88
102	102	comply with all current ordin ances. 89
103	103	(2) No political subdivision shall place any specific 90
104	104	limit on sound decibels generated from a digital asset 91
105	105	mining business that is more restrictive than other general 92
106	106	limits set for sound pollution in areas zoned for industrial 93
107	107	use. 94
108	108	8. No political subdivision shall impose any 95
109	109	requirement on a digital asset mining business that is not 96
110	110	also a requirement for data centers in its jurisdiction. 97
111	111	9. No political subdivision shall change the zoning of 98
112	112	a digital asset mining busine ss without satisfying proper 99
113	113	notice and comment requirements. A digital asset mining 100
114	114	business shall be able to appeal a change in zoning to a 101
115	115	court with proper jurisdiction. A judge shall find a 102
116	116	violation of this section and nullify such a change in 103
117	117	zoning if the judge determines the change was done to 104
118	118	discriminate against a digital asset mining business. 105
119	119	10. The public service commission may approve rates 106
120	120	reflective of cost to serve but shall not approve a rate 107
121	121	schedule for digital asset mi ning that creates 108
122	122	discriminatory rates for digital asset mining businesses. 109
123	123	11. Anyone engaged in home digital asset mining or a 110
124	124	digital asset mining business shall not be considered a 111
125	125	money transmitter under sections 361.700 to 361.727. 112
126	126	12. The state shall not prohibit an individual from: 113 SB 309 5
127	127	(1) Operating a node for the purpose of connecting to 114
128	128	a blockchain protocol or a protocol built on top of a 115
129	129	blockchain protocol and transferring digital assets on a 116
130	130	blockchain protocol; or 117
131	131	(2) Participating in staking on a blockchain protocol. 118
132	132	13. An individual or business operating a node or a 119
133	133	series of nodes on a blockchain protocol shall not be 120
134	134	required to obtain a money transmitter license under 121
135	135	sections 361.700 to 361.727 to enga ge in such activity. 122
136	136	14. No business offering to provide digital asset 123
137	137	mining or staking services for individuals or to other 124
138	138	businesses shall be considered as offering a security or 125
139	139	investment contract under state law. 126
140	140	15. Notwithstanding any other provision of law to the 127
141	141	contrary, no individual or entity shall face liability 128
142	142	related to a specific transaction merely by validating such 129
143	143	transaction if such individual or entity: 130
144	144	(1) Engages in digital asset mining; 131
145	145	(2) Operates a node or series of nodes on a blockchain 132
146	146	network; or 133
147	147	(3) Provides digital asset mining or staking services 134
148	148	for individuals or other businesses. 135
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