The legislation establishes rights for digital assets miners and validators and provides tax incentives for the purchase of goods and services with cryptocurrencies.
The Virginia State Senate has introduced legislation that delineates regulations for the mining and transactions of digital assets and their treatment under tax laws.
Senator Saddam Azlan Salim, the youngest member of the legislative body at 34 years old, proposed Senate Bill No. 339 on Jan. 9. The Senate is discussing the legislation, and if it passes, it will go to the House of Delegates for consideration, and then be signed into law.
The bill exempts individuals and businesses engaged in digital mining activities from obtaining money transmitter licenses. It also shields miners from discrimination by prohibiting industrial zones from banning digital assets mining or imposing more restrictive noise ordinances than those in place in industrial zones.
