SR16

This bill proposes to amend the Arkansas Data Centers Act of 2023 by revising regulations concerning digital asset mining businesses and blockchain network operators. The legislation grants local governments more authority to regulate digital asset mining operations, including potential permitting requirements for home-based mining and the ability to set specific operational or safety ordinances. Furthermore, the bill explicitly prohibits foreign nationals from specific countries (those subject to certain federal arms export regulations) from owning or investing in digital asset mining businesses within Arkansas. It grants the Attorney General the authority to investigate potential violations, mandate divestiture, and seek court-ordered sales of businesses found to be in violation. Additionally, the bill introduces civil penalties for non-compliance, with proceeds earmarked for the State Securities Department, the Attorney General's Office, and the Department of Energy and Environment.