According to local media report, Arkansas State House passed two laws that might potentially limit cryptocurrencycurrency mining operations in the area, igniting a heated discussion.
Crypto mining is criticized for using a lot of power and having an adverse effect on the environment. Concerns extend beyond the use of electricity, such as the production of e-waste and financial losses.
Although these bills have not yet become law, they represent a change from the over 90% of lawmakers who supported a policy to protect cryptocurrencycurrency mining last year.
For example, it is estimated that the mining of Bitcoin alone generates about 77 kilotons of electrical waste annually; assessments imply significant economic losses for the US and China.
Before possibly becoming law, the House’s passed bills must still go through committees for more consideration. The examination coincides with important elections in which cryptocurrencycurrency supporters are anticipated to cast a large ballot, further complicating the discussion of cryptocurrency legislation.
Read also: UK Prepares to Implement Extensive Crypto Regulation by July 2024
