LITTLE ROCK, Ark. — While at the Arkansas State Capitol on Wednesday, the House passed two bills that could restrict crypto-mining. These are not law yet, but they pave the way for further discussion to become law.
Last year, over 90% of state legislators voted to support a law that protects crypto mines, (Act 851), but in the 2024 fiscal session, legislators are walking that back with votes in the House on eight separate related bills.
The general concerns lawmakers want to address include noise reduction, foreign ownership, and how close crypto-mines can be to residential areas.
Now some lawmakers that once supported those protections are looking for ways to restrict them.
"I voted for at 851. And I think we've seen a lot of problems arise in the last almost a year. So I voted to hear all the resolutions and committee," said Senator Breanne Davis after a bill came through the Senate this week.
Much of the debate surrounds not if there should be any changes to Act 851, but rather how specific those changes should be put in.
"I want it to be specific and narrow. I want us to handle the two biggest concerns, which are noise and foreign ownership," Davis described.
Whereas others pushed for wide-reaching bills for further discussion including to what extent the industry is regulated.
"This is just to make sure that we have all the flexibility that we need to get something done," said House representative Stephen Meeks. "We got to do something to give those folks some relief."
While one bill passed the Senate last week to address crypto, out of the eight bills that were presented to the House on Wednesday, two passed.
That leaves further discussion to the committees before a possible law this fiscal session or next year.
On Wednesday, the House also moved forward with a plan to revamp the way state employees get paid. The proposal would give certain workers raises and potentially create a bonus system.
Just like with the crypto-mining bills, Wednesday's vote authorizes the House to consider a non-budget bill during the fiscal session.
However, the actual bill still needs to be fleshed out.