On Tuesday, the House City, County, and Local Affairs Committee advanced two bills addressing regulations for digital asset mining.

SB78 requires that digital asset mining businesses apply specified noise-reduction techniques. It states that a prohibited foreign party shall not purchase or acquire any interest in a digital mining business in the state.

SB79 states that a digital asset mining business shall not operate in Arkansas without a valid permit from the Oil and Gas Commission. This bill also states that a prohibited foreign party shall not purchase or acquire any interest in a digital mining business in the state.

The Joint Budget Committee advanced HB1097. This bill amends the Revenue Stabilization Act (RSA) by outlining state spending for the 2024-2025 Fiscal Year. You can find a copy of the RSA at arkansashouse.org.

The House will convene again on Wednesday at 1 p.m.