A Federal judge has ordered Arkansas to stop enforcement of a 2024 law created to regulate crypto mining operations in the state.
Reports by the Arkansas Democrat-Gazette show the ruling came from U.S. District Judge Kristine Baker in a lawsuit filed by the Arkansas Cryptomining Association. The organization contended the year old law created discriminatory restrictions on foreign ownership of digital asset mining business in the state.
The Judge determined the foreign ownership provision is likely preempted by federal law and issued a temporary injunction against its enforcement. She did not rule on the lawsuit’s contentions that the law violates due process and equal protection rights.
Source: Arkansas Business Morning Roundup