Bitcoin Miners Will Have Same Rights as Data Centers, Says New Arkansas Bill - Decrypt
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Proposed on March 30 by Rep. Rick McClure and co-sponsored by Arkansas Senator Joshua Bryant (R), the bill quickly garnered support from state legislators.
The legislation acknowledges the economic value of data centers, recognizing that they "create jobs, pay taxes, and provide general economic va
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A new bill aimed at regulating Bitcoin mining in Arkansas has been approved by both the House of Representatives and Senate and is now awaiting Governor Sarah Huckabee Sanders’ signature. The Arkansas Data Centers Act of 2023 seeks to establish guidelines for Bitcoin miners and protect them from discriminatory regulations and taxes, guaranteeing that firms have the same rights as data centers. The bill mandates that crypto miners must pay applicable taxes and government fees using acceptable forms of currency and must operate in a way that does not strain the public electricity grid.
Top Highlights
- Proposed on March 30 by Rep. Rick McClure and co-sponsored by Arkansas Senator Joshua Bryant (R), the bill quickly garnered support from state legislators. The legislation acknowledges the economic value of data centers, recognizing that they "create jobs, pay taxes, and provide general economic value to local communities."
- A new bill aimed at regulating Bitcoin mining in Arkansas has been approved by both the House of Representatives and Senate and is now awaiting Governor Sarah Huckabee Sanders’ signature. The Arkansas Data Centers Act of 2023 seeks to establish guidelines for Bitcoin miners and protect them from discriminatory regulations and taxes, guaranteeing t...
- “Data centers, digital currency, and blockchain technology are legal in all fifty (50) states; and guidance for future industry growth is needed in Arkansas to protect Arkansans from fraudulent business practices,” reads the document. While the bill mandates that crypto miners must pay applicable taxes and government fees using acceptable forms of...
- The proposed bill also defines certain terms related to digital asset mining. For instance, "digital asset mining business" refers to a collection of computers located at a single site that consumes over one megawatt (1MW) of power on average per year to generate digital assets through blockchain network security.
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