Utah’s HB230, the Blockchain and Digital Innovation Amendments, isn’t innovation, it’s an innovation killer. This is no way forward. It’s a siren song that promises future economic prosperity while surreptitiously picking your pocket and polluting your air. Let's call it what it is: a reckless gamble with your resources for the benefit of a select few.

Deregulation: A Blank Check For Crypto

At its core, this bill completely cedes state authority to the crypto industry. It enshrines the “right” to mine, stake and self-custody digital assets largely beyond the reach of any oversight. Remember the 2008 financial crisis? What we found out more than two decades ago is that deregulation without accountability is a formula for disaster. HB230 smells eerily similar.

  • No oversight = No accountability.

Think about it: waiving money transmitter license requirements? That’s analogous to saying a casino doesn’t have to check the source of its chips. It's an open invitation for illicit activity.

Water and Power: Draining Utah's Resources

Utah, a state largely through drought, is all but pleading for water savings. And then enters HB230, which allows crypto miners to freely consume tons of water without limits. The implication that these facilities can use as much water annually as 300,000 homes is startling. And it rightfully should send chills up your spine! Where is the resource for the people?

Let's not forget the electricity. And proof-of-work mining consumes massive amounts of energy, accounting for as much as 2.3% of the U.S.’s total electricity. Utah families and small businesses will inevitably, as a consequence, see their electricity bills continue to skyrocket. Are you being sacrificed on the altar of somebody’s Bitcoin windfall?

HB230 eliminates permanent property taxes for crypto miners by establishing state-sanctioned “opportunity zones” among other provisions. Who really benefits from these zones? Or are they just creating jobs for the crypto-industry’s new aristocracy, enriching successful crypto investors at the expense of everyday Utahans?

Opportunity Zones Or Corporate Giveaways

This isn’t about creating exciting new technologies, this is about providing a handout to an already highly successful industry. Crypto shouldn’t get special treatment, it should get scrutiny. Just picture for a moment if we took the same approach in every other sector. Should oil companies have an exemption from clean air rules because we want to “encourage” drilling? The parallel is chilling.

Mining operations aren't exactly quiet. The 24/7 din of these facilities has compared to the sound of a semi-truck engine idling full-time. The bill goes further, undermining local governments’ authority to respond to these complaints. In effect, you’re covering the cost of their power and water. In addition, you should continue to endure the noise of their operation.

Noise Pollution: Your Peace, Gone

This is an insult to our communities. Where’s the protection for our livability?

Arkansas passed a similar bill, and the consequences were predictable: noise complaints, utility cost spikes, and general community unrest. They're now trying to walk it back. Why are we ignoring their warning? So why are we marching, eyes wide shut, down the same path, straight to the same cliff?

Arkansas's Lesson: Learning from Mistakes

Far from advancing innovation, this bill puts corporate profits above what is best for Utahns. It’s about removing local control so that local governments aren’t able to protect their communities. It’s not even about the labor values, but rather enabling a volatile industry to further usurp public resources with minimal or no accountability.

  • Arkansas's pain should be Utah's gain in knowledge.

The National Coalition Against Cryptomining didn’t form just so that we would have an alliterative name. Americans from all walks of life understand the risks associated with crypto’s unregulated free-for-all. So why is Utah defying this increasingly vocal and bipartisan concern?

Whose Interests Are Being Served Here?

What we need are elected officials that put the people they serve first. They must not cave to the demands of the crypto industry and its army of lobbyists. What we do require is accountability, transparency, a true commitment to safeguard our resources and our communities. HB230 fails on all counts.

Let's make it clear: this isn't about being anti-crypto. It's about being pro-Utah. We should hold the same expectation for every other industry profiting and operating in our state. We’re not looking to sprinkle some magic fairy dust and make wins for the few seem like benefits for all. It's time to demand better. It's time to fight back.

We need elected officials who prioritize the people they serve over the interests of the crypto industry and its lobbyists. We need accountability, transparency, and a commitment to protecting our resources and our communities. HB230 fails on all counts.

Let's make it clear: this isn't about being anti-crypto; it's about being pro-Utah. It's about ensuring that any industry operating in our state does so responsibly, sustainably, and in a way that benefits everyone, not just a select few. It's time to demand better. It's time to fight back.