Unanimous approval was given to an anti-Bitcoin mining bill by the Texas Senate Committee on April 4, as reported by Satoshi Act Fund's founder Dennis Porter. The bill, which was sponsored by Texas State Senator Lois Kolkhorst, is known as Senate Bill 1752, and, if passed, will have a drastic impact on crypto miners in the state.

Senate Bill 1752 will reverse incentives put in place meant to attract crypto miners and reduce the power consumption that has risen 75% in the past 12 months due to the state-run demand response program for electricy, which currently rewards miners for feeding power back to the grid. If the bill passes, this demand response program and other subsidies and tax incentives will no longer be available to crypto miners.

The bill has been seen as a strong attack on the crypto industry, as it not only reverses incentives but also eliminates the main mechanism through which crypto miners gain significant returns. It is ultimately an effort to reduce the demand for power consumption in the state, but some argue that this should have been done without taking these drastic measures.

Ultimately, the bill's success further depends on its passing through the Senate and then the House for voting. As such, many in the crypto community hope to see some resistance that could help the bill get rejected during the voting periods. Whether this will be successful remains to be seen, but the unanimous support of the Senate Committee has already raised many concerns among crypto miners.



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