Arkansas has made history by passing a bill titled “The Arkansas Data Centers Act of 2023”, becoming the first state in the United States to provide protection for Bitcoin mining and establish clearer regulations for digital mining within its borders.
Dennis Porter, one of the co-founders and CEO of SatoshiActFund, has expressed excitement about Arkansas achieving an unexpected victory. He anticipates participating in the signing ceremony alongside Sarah Huckabee in the near future.
Sponsored by Senator Joshua Bryant and Rep Rick McClure, the bill was first read on March 30 and has since gone through multiple readings and committee stages in both the House and Senate. After being slightly amended, the bill was passed in both chambers and has now been sent to the governor for approval.
The legislation acknowledges the contribution of data centers to the economy by generating employment opportunities and paying taxes. The bill outlines measures to prohibit local authorities from enforcing regulations that single out the crypto-mining sector, To avoid biased taxes and regulations aimed at Bitcoin miners.
Moreover, guidelines have enabled digital asset mining companies to contest zoning adjustments. The bill also bars the Arkansas public utility provider from imposing “unreasonably discriminatory rates” on miners.
Additionally, the bill defines several terms, such as digital assets, digital asset mining, node, and digital asset mining business. This move will likely encourage more digital asset mining companies to set up operations in the state, bringing new jobs and investment.
However, the bill is a significant step forward for the crypto industry and could pave the way for similar legislation in other states in the future.
Passing Bitcoin Mining Bill Sparks Excitement In Crypto Community
Arkansas’ passing of the “Right to Mine” bill has sparked mixed reactions from the community. While some celebrate the historic move, others question its motivations.
Some have pointed out that Arkansas is the first state to pass a bill specifically protecting the right to mine Bitcoin. Dennis Porter, CEO and Co-Founder of SatoshiActFund received praise for his work on the political side of the Bitcoin battle.
However, some expressed concern that greed may be the driving force behind the bill. Nonetheless, the passing of this bill is a significant step forward for the cryptocurrency industry, and its impact remains to be seen.
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