Things are heating up in Arkansas for crypto mining companies.
According to Northwest Arkansas Democrat-Gazette, Arkansas lawmakers have launched a study to determine the effects of cryptocurrency mining just months after they passed laws bypassing local city’s authority and limiting their ability to stop mining companies from mining locally. Apparently, lawmakers are concerned the initial law they passed might have been wrong.
Crypto Takes Controversial Turn
It all started when Arkansas lawmakers passed a controversial law limiting local city governments’ authority to crack down on cryptocurrency mining companies. Although crypto mining companies have received complaints from residents for noise violations and possible negative environmental pollution, Arkansas lawmakers chose to double down. State lawmakers made it more difficult for cities to crack down on the industry.
But suddenly, that’s all changed!
It finally looks like lawmakers are having second thoughts about their initial protections for crypto miners. They’re suddenly concerned that limiting the industry’s accountability from city officials might be a problem.
As a result, Arkansas lawmakers have just authorized a study on “the development of a strategy to regulate digital asset mining (also known as ‘crypto mining’) businesses within the State of Arkansas.â€
The new study will determine if crypto mining companies are really as bad for the environment and local cities as activists claim. The fact that Arkansas lawmakers are willing to give the issue a second look shows that at least they’re trying to be intellectually honest and cautious on such a complicated and technologically advanced topic.
