State Senate Approves Resolutions to Regulate Crypto Mining Industry

Arkansas Senate Approves Resolutions to Regulate Crypto Mining

In a move aimed at addressing the growing concerns surrounding crypto mining operations in the state, the Arkansas Senate approved a slate of resolutions on Thursday. These resolutions, the first step needed before legislators can consider voting for the legislation, cover a range of issues from noise and energy use to foreign ownership.

The Senate approved seven resolutions to regulate crypto mines, responding to complaints from nearby residents about noise pollution and the energy-intensive nature of these operations. One particular concern is the ownership of crypto mines, with at least one operation under investigation for potential ties to China, which could violate state laws.

Among the resolutions approved is Senate Resolution 5, which seeks to impose sound reduction techniques and location restrictions on crypto mines. Another resolution, Senate Resolution 17, establishes limits on noise levels and ownership stakes in crypto mines, while also requiring licensing by the Arkansas Department of Energy and Environment.

However, not all lawmakers were in agreement on the proposed resolutions. Senator Bryan King presented six resolutions that faced skepticism from some of his colleagues, who raised concerns about unintended consequences. Despite this, the Senate ultimately approved five of King’s resolutions, including measures to ban the use of computers or software from certain countries and to monitor the impact of crypto mines on water and electric usage.

The passage of these resolutions signals a growing recognition of the need to regulate the crypto mining industry in Arkansas. Lawmakers are now one step closer to considering legislation that could address the various challenges posed by these operations. As the debate continues, it remains to be seen how these resolutions will shape the future of crypto mining in the state.