To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Acts Of 2023, To Regulate Digital Asset Mining Businesses And Businesses Utilizing A Blockchain Network, And To Declare An Emergency.
Impact
If enacted, SR17 will specifically reshape the current regulatory landscape for digital asset mining. It stipulates that businesses in this sector must comply with new licensing requirements from the Department of Energy and Environment and adhere to guidelines for environmental and operational standards. This legislation aims to minimize the adverse effects such as excessive noise, substantial electricity usage, and the potential depletion of local water resources, while fostering the growth of the digital asset economy within Arkansas.
Summary
Senate Resolution 17 (SR17) seeks to amend Arkansas law regarding digital asset mining businesses and the regulation of businesses utilizing blockchain networks. This bill intends to implement a comprehensive framework for the licensure, permitting, and regulation of these businesses in order to align with existing state laws while also addressing the unique challenges posed by this emerging industry. As digital asset mining involves significant energy consumption and potential environmental impacts, the bill emphasizes the need for regulatory oversight to protect public interests in Arkansas.
Contention
A notable point of contention surrounding SR17 is its provision prohibiting foreign nationals from owning or operating digital asset mining businesses in Arkansas. This measure is positioned as a protective mechanism against potential cybersecurity threats, but opponents argue it could hinder investment in the state and limit economic opportunities. The tension between fostering innovation in the digital sector and safeguarding local resources and interests will likely be central to discussions as the bill progresses through the legislative process.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Acts Of 2023, To Regulate Digital Asset Mining Businesses And Businesses Utilizing A Blockchain Network, And To Declare An Emergency.
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 Amend The Arkansas Data Centers Act Of 2023; And To Regulate The Impact On Water Usage And The Electric Grid By Blockchain Networks And Digital Asset Mining.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023; And To Regulate The Impact On Water Usage And The Electric Grid By Blockchain Networks And 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 Amend The Arkansas Data Centers Act Of 2023; And To Regulate The Impact On Water Usage And The Electric Grid By Blockchain Networks And Digital Asset Mining.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Acts Of 2023, To Regulate Digital Asset Mining Businesses And Businesses Utilizing A Blockchain Network, And To Declare An Emergency.