- The US government continues to tighten its grip on the crypto industry, with Arkansas lawmakers recently approving two bills to address criticism over previous regulations on mining operations.
- The two Senate-backed bills, SB78 and SB79, aim to address the backlash from local officials and residents about the noise impact of mining operations on the community.
- Despite some opposition, the bills are expected to be approved by Arkansas Governor Sarah Huckabee Sanders.
Arkansas lawmakers approve two new bills to regulate crypto mining operations, addressing previous criticisms and aiming to protect local communities. However, some representatives express concerns over the potential impact on foreign investment.
New Crypto Mining Regulations In Arkansas
The Associated Press reported that Arkansas’ House of Representatives gave final approval to two bills related to crypto mining operations in the state. These bills, SB78 and SB79, were overwhelmingly approved by the majority Republican House and are now on their way to Republican Governor Sarah Huckabee Sanders’s desk. These bills aim to address the complaints of last year’s Act 851, which was criticized for limiting the local government’s ability to regulate mining businesses.
Addressing Backlash and Protecting Communities
The new bills were created in response to backlash from local officials and residents living near mining operations, who complained about the noise impact on the community. As a result, the lawmakers added the requirement for noise-reduction techniques and a state permit to operate. Additionally, the two bills addressed water usage restrictions for cooling techniques and removed the limitation to regulate the sound decibels generated by mining facilities.
Gov. Sanders To Sign The Bills Despite Concerns
Despite concerns from some representatives about the potential impact on foreign investment, the bills are expected to be signed by Governor Sanders. Alexa Henning, Sanders’ spokesperson, stated in an email that both bills will be signed, further alleging that the Governor strongly supports outlawing foreign adversaries from owning crypto mines in Arkansas, while protecting rural communities and empowering them to crack down on bad actors.
Conclusion
The approval of these bills represents another step in the US government’s ongoing efforts to regulate the crypto industry. While these regulations aim to address community concerns and protect local interests, they also raise questions about the potential impact on foreign investment and the future of the crypto industry in the US.
