Arkansas Officials Remain Barred From Enforcing Crypto Mining Law

Two Arkansas officials and those acting with them remain barred from enforcing a 2024 crypto mining law and related rule after an Oct. 20 appeals hearing examined the injunction's reach. The U.S. Court of Appeals for the Eighth Circuit heard the state's challenge but issued no ruling at the hearing. The appeal concerns a preliminary injunction obtained by the Arkansas Cryptomining Association. Act 174 of 2024 prohibits specified foreign parties from holding an ownership interest greater than 0% in an Arkansas digital asset mining business. It also establishes permits and operating rules for mining facilities. The association argues that the ownership restriction conflicts with federal authority over foreign investment. Arkansas maintains that regulating property ownership and mining operations falls within state authority.

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