Arkansas Senate Committee Approves Amended Bills to Restrict Crypto Mining

Amended versions of two bills aimed at imposing stricter regulations on crypto mining in Arkansas have advanced through the Senate’s City, County and Local Affairs Committee. Senate Bill 78 and Senate Bill 79, sponsored by Sen. Joshua Bryant and Sen. Missy Irvin, respectively, received amendments that make each senator a co-sponsor on the other’s bill.

The amendments were approved by Senate members before the bills were voted on. Bryant and Irvin collaborated to ensure that the language in both bills complemented each other, with the goal of creating the strongest regulations possible.

The Arkansas House of Representatives authorized Bryant and Irvin to introduce the bills, while rejecting similar resolutions presented by Rep. Josh Miller. The amendments to the bills included clarifications on noise-reduction practices, foreign ownership prohibitions, and penalties for violations.

Bryant’s bill focuses on clarifying local control over crypto mining operations, while Irvin’s bill addresses issues such as foreign ownership and zoning regulations. Both senators emphasized the need to regulate the industry effectively to prevent negative impacts on the state.

During the committee meeting, concerns were raised about the electricity consumption of crypto mines and the potential strain on local resources. Members of the public, including a rice farmer and the chairman of the Arkansas Rice Growers Association, expressed worries about the impact of crypto mining on water supplies and local communities.

Despite some reservations, the committee ultimately decided to move the bills forward for further consideration. The committee will reconvene to discuss the bills further, highlighting the ongoing debate surrounding the regulation of crypto mining in Arkansas.