Arkansas State House Passes Bill that Could Restrict Cryptocurrency Mining Activities

The Arkansas State Legislature has passed two bills that could potentially restrict cryptocurrency mining activities in the state. During a Senate hearing on April 17th, lawmakers attempted to address common concerns such as noise reduction, foreign ownership, and proximity of cryptocurrency mining facilities to residential areas. While two out of the eight bills submitted to the House on Wednesday were approved, only one bill related to cryptocurrency was approved by the Senate last week. There is considerable debate on whether Bill 851 should be amended and the extent of the amendments that should be included. The relevant committee will discuss this issue and a law may be passed during this or the next fiscal session.