Arkansas Senate Considers Amendments to Law Regulating Cryptocurrency Mining Operations

The Arkansas Senate has opened the door for potential amendments to a 2023 law that limited the state’s ability to regulate cryptocurrency mining operations. This move comes as concerns grow over the impact of crypto mines on rural communities and national security.

Introduced as Act 851 of 2023, the Arkansas Data Centers Act aimed to regulate the booming industry of crypto mining. However, just a year later, Sen. Bryan King is leading the charge to make changes to the law, citing the need for government oversight in an industry that is still relatively unknown.

Crypto mines, which are large groups of computers used to harvest digital currency, have been a source of contention in Arkansas. Citizens in areas like DeWitt and Greenbrier have raised concerns over noise pollution and water usage from these operations.

The proposed amendments, sponsored by King and other lawmakers, cover a range of issues including noise limits, foreign ownership restrictions, and licensing requirements for crypto miners. The resolutions passed the Senate with bipartisan support, signaling a growing consensus on the need for regulation in this industry.

While some lawmakers have expressed reservations about the proposed amendments, citing concerns over job creation and economic impact, others see this as a necessary step to protect Arkansas communities and resources.

As the debate continues, the Arkansas Senate’s decision to move forward with these potential amendments sets the stage for further discussion on the regulation of crypto mining operations in the state. Stay tuned for updates on this developing story.