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Arkansas approves ‘right to mine’ Bitcoin bill to protect crypto miners

Arkansas approves 'right to mine' Bitcoin bill to protect crypto miners

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TL;DR

  • The state of Arkansas has recently approved the ‘Right to Mine’ Bitcoin bill, which is aimed at safeguarding the rights of cryptocurrency miners in the region.
  • The Satoshi Action Fund, which was instrumental in drafting the bill, announced the passing of the legislation.

The state of Arkansas has recently approved the ‘Right to Mine’ Bitcoin bill, which is aimed at safeguarding the rights of cryptocurrency miners in the region. However, the legislation has been passed by both the House and Senate and is now awaiting the signature of the state’s governor.

The Satoshi Action Fund, which was instrumental in drafting the bill, announced the passing of the legislation. Arkansas’s decision comes after Missouri’s unanimous 12-0 vote in favor of a similar ‘Right to Mine’ bill earlier this month. With the evolving digital asset industry, crypto mining has been a topic of rigorous debate, with both sides engaging in discussions regarding the practice.

The Satoshi Action Fund has been working towards protecting crypto miners, and its efforts have paid off with Arkansas passing the ‘Right to Mine’ bill. Also, the legislation is designed to specifically protect Bitcoin and crypto miners and shield them from discriminatory rates imposed by electric companies for energy usage.

Montana signed similar Bitcoin mining protection in February this year, and Texas also passed legislation to protect Bitcoin holders, miners, and developers in March.

It is essential to know that the bill aims to “clarify the regulation of the digital asset and mining business.” With the lack of regulatory clarity surrounding digital assets in the US, such legislative action is a welcomed development.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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