Arkansas requests the Eighth Circuit Court of Appeals to revoke the ban on cryptocurrency mining restrictions
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On Tuesday, Arkansas and its Oil and Gas Commission requested the US Eighth Circuit Court of Appeals to revoke a lower court order that prohibits the enforcement of the state's law restricting foreign entities from holding digital asset mining businesses during oral arguments. Joseph Nelson of the Arkansas Attorney General's Office stated that the law falls within the core scope of state security powers and is limited to countries that the federal government has identified as a threat to national security. The law was passed in 2024 and prohibits citizens or businesses of countries subject to US State Department arms export controls from holding the rights to digital asset mining equipment in that state. (Source: Bloomberg Law)