The Arkansas Cryptomining Association is rallying behind its members against Arkansas Attorney General Tim Griffin and the Arkansas Oil and Gas Commission over new rules placed on foreign cryptomining facilities that allegedly violate the U.S. Constitution and are allegedly an end-around to a prior federal district court ruling.
Mark E. Bini, a partner at Reed Smith in its Miami and New York offices, said the complaint may be an “early bellwether for crypto litigation and disputes to come,” particularly as the U.S. Securities and Exchange Commission is stepping back in its crypto enforcement and the laws and regulations of individual states will take on outsize importance.