The Arkansas crypto bills, after approvals in the House of Representatives, are now awaiting the green signal from the Governor of the state regarding the final stage of their becoming laws.
A couple of US crypto bills are generating significant interest from the global crypto community. Although many US crypto bills have been introduced in the last year, these two bills have reached their last stage of approval. The bills, in the state of Arkansas, are for regulating crypto miners in the state. Once these two Arkansas crypto bills receive approval from the Governor, they will become laws.
These bills are Senate bills 78 and 79. Bill 78 restricts foreign control in the state’s crypto mining operations, leading to more local control in this industry. Further, the bill also puts noise and water usage limits on the operations. On the other hand, Bill 79 creates a regulatory and licensing framework for crypto miners.
The official draft of Bill 78 describes digital assets as “cryptocurrency, virtual currency, and 6 natively electronic assets, including without limitation stable coins, 7 non fungible tokens, and other digital-only assets, that confer economic rights or powers.”
It is now up to Governor Sarah Huckabee Sanders to approve or reject the two bills for crypt miners. As a matter of fact, these bills amend an earlier law in Arkansas. In 2023, lawmakers created the Arkansas Data Centers Act to protect crypto mining in the state. Now, bills 78 and 79 will amend the original Data Centers Act of 2023.
A section of the lawmakers had objected to the original bill. They supported the idea of not allowing foreign entities to gain a stake in the state’s crypto-mining sector.
A US stablecoin bill is also in the works, and progress has been made.
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