A new bill aims to regulate & legalise crypto mining operations in Arkansas, a US state.
The US is a very big region for Bitcoin mining, accounting for 37.84% of Bitcoin mining operations, as of Jan 2022. At present Arizona, Nevada, Texas & California are the top Bitcoin mining contributors in US states. Arkansas, a landlocked state in the south-central region of the Southern United States, is also moving toward becoming a friendly region for Bitcoin mining.
Recently a new bill has been passed in the state’s House of Representatives and Senate. Now this bill will go on the table of the governor’s office for final approval.
This bill includes all the provisions that are necessary for the Bitcoin miners in this US state. Bill will not only bring friendly laws for Bitcoin miners but also bring a better level of regulation in the state.
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Bill was initially proposed by Senator Joshua Bryant on 30 March.
Source: Arkansas State Legislature
The main points under this bill include all the measures to maintain a better relationship between Bitcoin miners & government agencies as well as on the resources. For example “to pay applicable taxes and government fees in acceptable forms of currency and operate in a manner that causes no stress on an electric public utility’s generation capabilities or transmission network.“
This news will surely bring big happiness to those Bitcoin miner companies, which faced legal pressure in Texas to operate their business.
In April of this year, a legislation was passed in the Texas Senate Committee on Business and Commerce that will kick out all the Bitcoin mining operations from the state, which were operating their business under the state’s crypto-friendly regulatory environment.
Read also: Pro Crypto Lawyer Says XRP Sales Post-2018 Were Not Against Securities Law
New bill will legalise Bitcoin mining in American state Arkansas
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