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Montana hearing on network-token law centers on regulatory clarity, economic promises and consumer questions
Summary
SB 265 would create a registration pathway and disclosure rules for "network tokens," ban certain central bank digital currencies, and aim to attract decentralized-infrastructure businesses; proponents argued the change would create jobs and legal certainty while committee members pressed on energy use, rural benefits and safeguards against bad actors.
Senator Daniel Zolnikoff opened the SB 265 hearing by describing the bills dual goals: provide a clear regulatory path for network tokens and related digital-asset projects, and attract businesses and jobs to Montana. He said prior state steps had created precedents and that a gap in clarity had driven some firms offshore.
"This bill sets a regulatory framework for this concept called network tokens," Zolnikoff said, explaining the draft would require companies to register, disclose material aspects, and provide contact information so that regulators could hold them accountable while offering regulatory certainty to legitimate firms.
A long set of proponents testified in support, including Devon…
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