Arkansas House Considers New Regulations on Cryptocurrency Mines
The Arkansas House has taken a significant step towards potentially regulating cryptocurrency mines in the state. The adoption of two resolutions on the topic has opened the door for discussions on new regulations, although the ultimate passage of bills is not guaranteed.
The issue of cryptocurrency mines in rural Arkansas has sparked controversy, with complaints about noise and energy usage, as well as concerns about alleged ties to overseas organizations and foreign governments. Last year, a state law was passed to deregulate the mines, but some lawmakers have been pushing for more oversight.
One of the resolutions passed on Wednesday, sponsored by Rep. Rick McClure, would introduce basic regulations for the mines, such as noise ordinances and requirements for local government approvals. Another similar bill, sponsored by Rep. Jeremiah Moore, would add sound limits and general business regulations for the mines.
Rep. Moore has been vocal against a crypto mine in DeWitt, stating that small towns may struggle to stand up against billion-dollar corporations. He has even been subpoenaed by lawyers representing crypto mine owners after speaking out against them.
However, not all resolutions on regulating the mines were successful. Six resolutions put forth by Rep. Josh Miller failed to pass the House, with some lawmakers feeling they were too vague and broad. Rep. David Ray expressed concerns about the noise and potential foreign connections of the mine owners, emphasizing the need for more targeted regulations.
Despite the mixed reactions from lawmakers, the discussions on regulating cryptocurrency mines in Arkansas are ongoing. The resolutions have sparked debate on the issue, with some calling for more attention and others urging to focus on other legislative priorities during the fiscal session.
As the debate continues, it remains to be seen how the Arkansas House will proceed with potential regulations on cryptocurrency mines in the state. Stay tuned for updates on this developing story.
