To Authorize The Introduction Of A Nonappropriation Bill To Prohibit The Use Of A Computer Or Software Manufactured, Assembled, Or Developed By A Covered Foreign Entity In Digital Asset Mining.
Impact
If passed, SR12 would amend the Arkansas Code, incorporating new definitions and prohibitions pertaining to digital asset operations. Digital asset businesses would be held accountable for the technologies they utilize. Using equipment or software from defined 'covered foreign entities' would not only be banned but would also result in criminal penalties: a Class A misdemeanor for the first offense and a Class D felony for subsequent violations. This legislation reflects the growing concerns over cybersecurity and the integrity of digital financial environments against foreign risks.
Summary
SR12 is a Senate resolution that seeks to prohibit the use of computers and software in digital asset mining if they are manufactured, assembled, or developed by entities classified as 'covered foreign entities'. This term specifically refers to individuals or parties tied to foreign governments such as China or Russia, as outlined in the resolution. The resolution's primary aim is to ensure that Arkansas's digital asset mining industry remains secure from potential foreign influence that could compromise state and national security.
Contention
The discussions surrounding SR12 likely encompass significant points of contention, primarily centered around the balance between security and market accessibility. Supporters may argue that restricting the use of foreign-manufactured technology is vital for protecting local interests from espionage and manipulation. However, opponents could raise concerns regarding the bill's implications for competition, innovation, and the market size of digital asset mining in Arkansas, suggesting that it could inadvertently stifle growth and entrepreneurship in the tech sector.
To Authorize The Introduction Of A Nonappropriation Bill To Prohibit The Use Of A Computer Or Software Manufactured, Assembled, Or Developed By A Covered Foreign Entity In Digital Asset Mining.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023 And To Prohibit Foreign-party-controlled Ownership Of A Digital Asset Mining Business.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023 And To Prohibit Foreign-party-controlled Ownership Of A Digital Asset Mining Business.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023 And To Amend The Requirements For A Digital Asset Mining Business Or Business Using A Blockchain Network.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023 And To Amend The Requirements For A Digital Asset Mining Business Or Business Using A Blockchain Network.
To Authorize The Introduction Of A Nonappropriation Bill To Require A Digital Asset Mining Business To Provide Notification Before Purchasing Land Or A Building Or Beginning Construction Of A Digital Asset Mining Facility.
To Authorize The Introduction Of A Nonappropriation Bill To Require A Digital Asset Mining Business To Provide Notification Before Purchasing Land Or A Building Or Beginning Construction Of A Digital Asset Mining Facility.
To Authorize The Introduction Of A Nonappropriation Bill To Require A Digital Asset Mining Business To Pay A Fee For Extraordinary Electrical Energy Usage.
To Authorize The Introduction Of A Nonappropriation Bill To Require A Digital Asset Mining Business To Pay A Fee For Extraordinary Electrical Energy Usage.