Arkansas Passes Bills Regulating Crypto Mining Activities

The Arkansas House of Representatives has approved Senate Bills 78 and 79, which aim to regulate cryptocurrency mining activities in the state. Senate Bill 78 introduces noise limits, regulates water usage for cooling, prohibits foreign ownership of mining operations, and restores local government control over regulation. Senate Bill 79 establishes a state licensing and regulatory system overseen by the Oil and Gas Commission. Governor Sarah Huckabee Sanders is expected to sign the bills into law.

These bills come as a response to the growing crypto mining industry in Arkansas, with concerns raised about its impact on local communities and the environment. The legislation seeks to balance the interests of miners with the need to protect rural areas and empower local authorities to address any issues arising from mining operations.

The passage of these bills reflects a broader trend of increased regulatory scrutiny of cryptocurrency activities across the United States. As the crypto mining industry continues to expand, state governments are taking steps to ensure responsible and sustainable practices while safeguarding the interests of their citizens.