United States of America: Introduced amendment to Arkansas Data Centers Act of 2023 to Prohibit Foreign-Party of Controlled Ownership of a Digital Asset (SB 78)

On 17 April 2024, an amendment to the Arkansas Data Centers Act of 2023 to Prohibit Foreign-Party of Controlled Ownership of a Digital Asset (SB 78) was introduced to the Arkansas State Legislature. The amendment prohibits foreign-party-controlled businesses from owning digital asset mining operations in the State. The Bill defines "prohibited foreign-party-controlled business" as any entity with a controlling interest of 15 per cent or more by a prohibited foreign party, including individuals or entities from countries subject to certain U.S. regulations.