The state of Arkansas has recently joined the ranks of other US states in passing a bill that seeks to regulate Bitcoin (BTC) mining. The Arkansas Data Centers Act of 2023 has successfully passed through both the House of Representatives and Senate and is currently awaiting the final approval of Governor Sarah Huckabee Sanders.
The Act seeks to establish guidelines for Bitcoin miners and protect them from “discriminatory regulations” and taxes, ensuring that they have the same rights as data centers.
What Are The Key Guidelines For The Bitcoin Mining Bill?
Subchapter 5 of the approved bill, outlines several definitions that are important for understanding the legislation. This subchapter defines “digital asset mining” as the use of electricity to power computers to secure or validate a blockchain network, and “digital asset miner” as an individual who engages in this activity.
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