TechFlow reports that the Arkansas State Legislature has passed two bills that could restrict cryptocurrency mining.
Although these bills have not yet become formal laws, they lay the groundwork for further discussion and potential legislation. During a Senate hearing on April 17, lawmakers sought to address general concerns such as noise reduction, foreign ownership, and the proximity of crypto mining facilities to residential areas.
Last week, only one cryptocurrency-related bill was approved by the Senate. Of the eight bills submitted to the House on Wednesday, two were passed. There is significant debate over whether Bill 851 should be amended and what specific changes should be made. The committee will discuss this issue during the current fiscal session or the next legislative term before potentially enacting a law. According to the bill, the 2023 "Arkansas Data Center Act" aims to regulate Bitcoin mining within the state, establishing guidelines for miners and protecting them from discriminatory regulations and taxation.
