The legislature of Arkansas has recently passed a bill that aims to regulate the activities of cryptocurrency mining in the state.
The bill, introduced by Republican Rick McClure, aims to prevent discrimination against miners by subjecting them to the same regulations as data processing centers (DPCs).
The bill requires miners to pay taxes and operate in a way that does not overload the power grid.
However, Arkansas authorities cannot impose requirements on miners that do not apply to DPCs.
The proposed law is expected to protect miners from tax discrimination and help develop the mining industry in Arkansas, while preventing shadow mining among local residents.
The bill includes several terms related to mining, such as the definition of “digital asset mining business” and the provisions for individuals who mine bitcoin at home.
Unlike Texas, which has seen a significant increase in demand for electricity in the past year, Arkansas hopes to create a favorable environment for miners to thrive.
The bill is currently awaiting signature from Governor Sarah Huckabee Sanders.