United States of America: Adopted Arkansas Data Centers Act of 2023

On 7 April 2023, the “Arkansas Data Centers Act of 2023” was adopted after being approved by both chambers of the state legislature of Arkansas. It has been sent to the governor for final approval prior to implementation. The act aims to regulate the digital asset mining business. The Act seeks to clarify the guidelines needed to protect data asset miners from discriminatory industry-specific regulations and taxes. The Act will allow digital asset mining businesses to operate in the state if they comply with state laws, local ordinances, and utility service rules. In particular, the Act will prohibit local governments from enacting discriminatory policies against digital asset mining businesses. Furthermore, digital asset miners will be required to pay applicable taxes and government fees in acceptable forms of currency and operate in a manner that causes no stress on an electric public utility’s generation capabilities or transmission network. Finally, the Act ensures that individuals engaged in home digital asset mining or operating a digital asset mining business will not be considered money transmitters under the Uniform Money Services Act.