Arkansas House Committee Approves Resolutions to Regulate Crypto Mining
The Arkansas House Select Committee on Rules has approved eight resolutions aimed at imposing greater regulations on crypto mining in the state. Sponsored by various representatives, these resolutions mirror earlier Senate resolutions and seek to address concerns surrounding the impact of crypto mining on the environment and local communities.
Rep. Josh Miller, R-Heber Springs, sponsored six of the resolutions, while Rep. Rick McClure, R-Malvern, and Rep. Jeremiah Moore, R-Clarendon, sponsored the other two. These resolutions come in the wake of the Arkansas Data Centers Act of 2023, which limited local governments’ ability to regulate crypto mines and has since faced criticism from lawmakers.
One of the key resolutions, House Resolution 1014, prohibits the use of computers and software from certain foreign entities in crypto mining activities. Another resolution, House Resolution 1018, seeks to amend the Arkansas Data Centers Act to remove exemptions for home crypto mining and update definitions related to money transmission.
Other resolutions focus on water and electricity usage by blockchain networks, notice requirements for crypto mining businesses, and noise limits for crypto mines and businesses using blockchain networks. Lawmakers hope to address concerns raised by residents, including worries about the proximity of crypto mines to communities and potential health impacts.
The resolutions will now move to the full House of Representatives for further consideration. Lawmakers are set to discuss these measures during the fiscal session, with a focus on ensuring responsible regulation of the crypto mining industry in Arkansas. Stay tuned for updates on this developing story.
