To Authorize The Introduction Of A Nonappropriation Bill To Prohibit The Use Of A Computer Or Software Manufactured, Assembled, Or Developed By A Covered Foreign Entity In Digital Asset Mining.
Impact
If passed, SR12 would amend the Arkansas Code, incorporating new definitions and prohibitions pertaining to digital asset operations. Digital asset businesses would be held accountable for the technologies they utilize. Using equipment or software from defined 'covered foreign entities' would not only be banned but would also result in criminal penalties: a Class A misdemeanor for the first offense and a Class D felony for subsequent violations. This legislation reflects the growing concerns over cybersecurity and the integrity of digital financial environments against foreign risks.
Summary
SR12 is a Senate resolution that seeks to prohibit the use of computers and software in digital asset mining if they are manufactured, assembled, or developed by entities classified as 'covered foreign entities'. This term specifically refers to individuals or parties tied to foreign governments such as China or Russia, as outlined in the resolution. The resolution's primary aim is to ensure that Arkansas's digital asset mining industry remains secure from potential foreign influence that could compromise state and national security.
Contention
The discussions surrounding SR12 likely encompass significant points of contention, primarily centered around the balance between security and market accessibility. Supporters may argue that restricting the use of foreign-manufactured technology is vital for protecting local interests from espionage and manipulation. However, opponents could raise concerns regarding the bill's implications for competition, innovation, and the market size of digital asset mining in Arkansas, suggesting that it could inadvertently stifle growth and entrepreneurship in the tech sector.
To Authorize The Introduction Of A Nonappropriation Bill To Prohibit The Use Of A Computer Manufactured By A Covered Foreign Entity In Digital Asset Mining And Prohibit The Use Of Certain Software In Digital Asset Mining.
TO AUTHORIZE THE INTRODUCTION OF A NONAPPROPRIATION BILL TO PROHIBIT THE USE OF A COMPUTER MANUFACTURED BY A COVERED FOREIGN ENTITY IN DIGITAL ASSET MINING AND PROHIBIT THE USE OF CERTAIN SOFTWARE IN DIGITAL ASSET MINING.
To Authorize The Introduction Of A Nonappropriation Bill To Prohibit The Use Of A Computer Manufactured By A Covered Foreign Entity In Digital Asset Mining And Prohibit The Use Of Certain Software In Digital Asset Mining.
TO AUTHORIZE THE INTRODUCTION OF A NONAPPROPRIATION BILL TO PROHIBIT THE USE OF A COMPUTER MANUFACTURED BY A COVERED FOREIGN ENTITY IN DIGITAL ASSET MINING AND PROHIBIT THE USE OF CERTAIN SOFTWARE IN DIGITAL ASSET MINING.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Requirements For A Digital Asset Mining Business And Amend The Authority Of A Local Government With Respect To A Digital Asset Mining Business.
TO AUTHORIZE THE INTRODUCTION OF A NONAPPROPRIATION BILL TO AMEND THE REQUIREMENTS FOR A DIGITAL ASSET MINING BUSINESS AND AMEND THE AUTHORITY OF A LOCAL GOVERNMENT WITH RESPECT TO A DIGITAL ASSET MINING BUSINESS.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Requirements For A Digital Asset Mining Business And Amend The Authority Of A Local Government With Respect To A Digital Asset Mining Business.
TO AUTHORIZE THE INTRODUCTION OF A NONAPPROPRIATION BILL TO AMEND THE REQUIREMENTS FOR A DIGITAL ASSET MINING BUSINESS AND AMEND THE AUTHORITY OF A LOCAL GOVERNMENT WITH RESPECT TO A DIGITAL ASSET MINING BUSINESS.
To Authorize The Introduction Of A Nonappropriation Bill To Regulate The Impact On Water Usage And The Electrical Grid By Blockchain Networks And Digital Asset Mining.
TO AUTHORIZE THE INTRODUCTION OF A NONAPPROPRIATION BILL TO REGULATE THE IMPACT ON WATER USAGE AND THE ELECTRICAL GRID BY BLOCKCHAIN NETWORKS AND DIGITAL ASSET MINING.