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Arkansas Senate Bill 60 Targets Crypto Mining Near Military Facilities Arkansas Senate Bill 60 , co-sponsored by Senator Ricky Hill and House Speaker Brian Evans , seeks to prohibit digital-asset mining operations within a 30-mile radius of U.S. military facilities , according to AMP . This proposal has sparked debate, particularly around its implications for a crypto mine near Little Rock Air Force Base in Cabot , owned by Interstate Holdings . Local residents and officials have raised concerns about noise pollution and national security risks , prompting the legislative response. However, Interstate Holdings has pushed back, asserting its compliance with all regulations and distancing itself from any foreign ties, particularly China . Key Provisions of Senate Bill 60 1. Prohibition on Mining Near Military Bases Restriction Zone: The bill bans crypto mining activities within 30 miles of U.S. military facilities to mitigate potential risks. Focus on Cabot: The proposed legislation specifically targets a mining operation near the Little Rock Air Force Base . 2. Rationale for the Ban Noise Pollution: Residents near mining sites have complained about excessive noise generated by mining rigs. National Security: Lawmakers express concerns about the potential for foreign influence or espionage through mining activities. Controversy Surrounding the Cabot Crypto Mine Local Backlash Noise Concerns: Residents near the Interstate Holdings mine have voiced frustration over constant noise from mining rigs, disrupting their daily lives. Security Fears: Critics argue that the proximity of a crypto mine to a military facility could pose security vulnerabilities. Interstate Holdings’ Response Regulatory Compliance: The company emphasizes that it complies fully with state and federal regulations governing crypto mining. Denial of Foreign Ties: Interstate Holdings has confirmed it has no affiliations with China or any foreign entities, countering claims of national security risks. Implications of Senate Bill 60 1. For Crypto Mining Companies Increased Restrictions: Mining operators in Arkansas may face heightened scrutiny and geographic limitations. Operational Challenges: Companies near military facilities may need to relocate or cease operations, incurring significant costs. 2. For Local Communities Reduced Noise Pollution: If passed, the bill could alleviate noise issues for residents living near mining facilities. Economic Impact: The relocation of mining operations could result in job losses and reduced local investment. 3. For National Security Stronger Protections: The bill aims to enhance security measures around critical military infrastructure. Broader Precedent: This legislation could inspire similar measures in other states to regulate crypto mining near sensitive locations. Comparative Analysis: Crypto Mining Regulations Country/Region Policy on Crypto Mining Near Military Facilities United States (Arkansas) Proposed 30-mile restriction under Senate Bill 60. China Bans crypto mining entirely, citing energy use and security concerns. Kazakhstan Regulates mining activities with focus on energy and compliance zones. Canada Encourages mining but limits operations near sensitive infrastructure. Challenges and Criticisms of the Bill 1. Economic Consequences Relocation Costs: Mining companies may incur significant costs to relocate their facilities outside restricted zones. Job Losses: Local economies that rely on mining operations could face job losses and reduced tax revenue. 2. Enforcement Difficulties Defining Proximity: Determining exact boundaries for restricted zones may create enforcement challenges. Compliance Monitoring: Ensuring compliance with the ban will require additional resources and oversight. 3. Industry Pushback Reputation Risks: Mining companies like Interstate Holdings argue that unfounded allegations can harm their credibility and deter investment. Conclusion Arkansas Senate Bill 60 represents a significant effort to address the intersection of cryptocurrency mining and national security concerns . By proposing a 30-mile restriction around military facilities , lawmakers aim to protect sensitive infrastructure while addressing local grievances like noise pollution . However, the bill’s economic and operational implications for the crypto industry remain contentious. As the legislation progresses, it could set a precedent for how other states and countries manage the risks associated with cryptocurrency mining near critical facilities. To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news , where we delve into the most promising ventures and their potential to disrupt traditional industries.
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Trump ‘receptive’ to idea of reserve with crypto coins founded in US
Donald Trump , the President-elect of the United States, was largely seen as the pro-crypto candidate in the 2024 presidential election. Back in July, at the Bitcoin 2024 conference, Trump first floated the idea of integrating cryptocurrencies into the national financial strategy. In his keynote address, the President-elect vowed to make the United States the ‘ crypto capital of the planet ’, remove Securities and Exchange Commission (SEC) chairman Gary Gensler , and implement a crypto advisory council. Most importantly, this occasion also marked the first time that Trump floated the idea of a strategic cryptocurrency reserve. His stances have changed over time — back in 2019, he dismissed cryptocurrencies as volatile assets whose value is based on ‘thin air’ — at present, Trump’s crypto portfolio is valued at slightly more than $15 million . The exact specifics of the plan have changed as Trump’s presidency approaches. Whereas the original idea was to only hold Bitcoin ( BTC ), the President-elect has reportedly had a change of heart — and is now considering expanding the holdings to other U.S.-based assets, such as Solana ( SOL ), USD Coin ( USDC ), and XRP , per the New York Post . Trump floats ‘America First’ crypto reserve According to the report, Trump has met with the founders of these coins — sources cited by the NY Post claim that he is receptive to the idea of a more broad-based reserve. On the whole, the crypto community is almost unanimously supportive of the government holding Bitcoin — although the proposal has drawn criticism from economists like Steve Hanke. However, the idea that other assets — even those based in the U.S., should be included, is a controversial one even within the community. Insiders who spoke on the matter on the condition of anonymity have expressed concerns that such a move would delegitimize the entire affair — and that the wiser course of action would be to prioritize BTC. However, those same sources have conceded that the worries have generally taken a back seat to what they believe will become a crypto golden age. Is the inclusion of altcoins a conflict of interest? While the crypto community has been quite supportive of Trump’s stance toward a national cryptocurrency reserve — this current iteration of the plan has its detractors. Most notably, Will Clemente, a prominent on-chain analyst and co-founder of Reflexivity Research took to X on January 16 to criticize the idea. Clemente holds that the reserve should only hold Bitcoin, and possibly stablecoins backed by treasuries. Sorry, but imo the reserve should be Bitcoin only and maybe to a lesser extent stablecoins (backed by treasuries), for the sake of the United States’ future. Seems like this was brought into Trump’s mind by some of the people that have been in his ear. https://t.co/t8AYgFzarb — Will (@WClementeIII) January 16, 2025 It would appear that Clemente takes issue with the inclusion of assets like SOL and XRP — hinting that the idea to include those assets was brought into Trump’s mind by some of his advisors, who, presumably, have vested interests. Featured image via Shutterstock The post Trump ‘receptive’ to idea of reserve with crypto coins founded in US appeared first on Finbold . Bitcoin World
USDT0 launches exclusively on Kraken!
We’re excited to announce that USDT0 is now available on Kraken! Funding Deposits and withdrawals for USDT0 will be live starting at 15:00 PM UTC today, January 16th. To add USDT0 to your Kraken account, simply navigate to Funding, select USDT , and click ‘Deposit’. Important: Be sure to deposit your tokens on the Ink network. Deposits made via unsupported networks will be lost. Start trading now and experience more ways to manage your digital assets! Deposit on Kraken Here’s some more information about this asset: USDT0 is Tether’s new omnichain USD stablecoin designed to unify liquidity across multiple blockchains. Built on LayerZero’s Omnichain Fungible Token (OFT) standard, USDT0 allows seamless and secure cross-chain transfers without the need for independent deployments, liquidity pools , or bridging solutions . This structure enhances capital efficiency and streamlines asset movement across networks. Launched exclusively on Ink , the DeFi-focused Layer 2 on the Optimism Superchain, USDT0 addresses liquidity fragmentation by enabling effortless integration for developers and smooth user transactions across supported chains. Each USDT0 token is fully backed 1:1 with USDT locked on Ethereum , ensuring security. Ready but don’t have a Kraken account yet? Sign up today ! Get started with Kraken Will Kraken make more assets available? Yes! But our policy is to never reveal any details until shortly before launch – including which assets we are considering. All of Kraken’s available tokens can be found here , and all future tokens will be announced on Kraken’s blog and social media profiles . Our client engagement specialists cannot answer any questions about which assets we may be making available in the future. Although the term “stablecoin” is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions. The post USDT0 launches exclusively on Kraken! appeared first on Kraken Blog . Bitcoin World
