Arkansas appeals to the Eighth Circuit Court to lift the injunction on the out-of-state crypto mining restriction bill.

Oct. 21—According to Bloomberg Law, Arkansas and its Oil and Gas Commission urged the Eighth Circuit Court on Tuesday (Oct. 20) to vacate an injunction prohibiting the state from enforcing its law restricting foreign-ownership crypto mining. The 2024 statute prohibits citizens and companies from countries subject to U.S. State Department arms export controls from holding equity in digital asset mining equipment within the state.

Joseph Nelson of the Arkansas Attorney General's Office challenged the lower court's ruling, which had found the state law could be preempted by federal regulations. Nelson argued that the law “touches the core of state police powers,” and that its restrictions on foreign ownership and investment align with the range of countries the federal government has already designated as threats to national security.