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A U.S. court has halted Arkansas’ effort to enforce a law restricting foreign-linked companies from owning stakes in local cryptocurrency mining operations, Crypto Briefing reported.
The law would bar ownership stakes in local mining businesses by companies controlled by foreign parties tied to certain countries designated by the U.S. Local miner Jones Eagle sued, arguing the state measure intrudes on federal authority over diplomacy and foreign investment. Arkansas, meanwhile, argued the rule concerns land use, which falls under state authority. A federal appeals court heard arguments from both sides on Oct. 20 and has not yet decided whether to keep the enforcement pause in place.