The Arkansas State Legislature has passed two bills aimed at limiting cryptocurrency mining, paving the way for further regulation in this area. This step of the Parliament has raised various concerns, such as the proximity of crypto mining activities to residential areas. Although they have not yet become final law, these bills provide a basis for future discussions.
Detailed Discussions and Criticisms Continue
The Senate approved a bill on cryptocurrencies in recent weeks. However, only two of the eight bills submitted to the Parliament on April 17 were accepted. Among these drafts, the issue of whether Law No. 851, which determines the details and limitations of mining, will be amended stands out.
The Arkansas Data Centers Act of 2023 aims to protect miners and exempt them from discriminatory regulations by regulating Bitcoin mining in the United States. The environmental impacts of Bitcoin mining continue to be the focus of criticism, especially due to energy consumption and waste production.
International Similar Situations and Measures
Crypto mining faces similar legal challenges around the world. For example, in Paraguay, as a result of power outages caused by illegal crypto mining, it was proposed to ban these activities. However, Paraguayan senators halted progress on this ban and are now considering the potential benefits of mining.
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