Judge Temporarily Halts Arkansas Rules on Foreign Crypto Firms

Arkansas Attorney General Tim Griffin and the state’s Oil and Gas Commission are barred for now from enforcing restrictions on ownership in foreign crypto companies and regulations on digital asset mining facilities, a federal judge said.

The Arkansas Cryptomining Association is likely to succeed on the merits of its claim that the rules are preempted by federal law, Judge Kristine G. Baker of the US District Court for the Eastern District of Arkansas said in a notice filed Tuesday of the preliminary injunction order, which is sealed.

The Arkansas Legislature last year passed Act 174, which prohibits ownership in a ...