AR HB1926

Adds "virtual currency" as a defined term under Arkansas's Uniform Commercial Code with reference to new Chapter 11 (§ 4-11-102)

Establishes that a secured party has control of virtual currency as provided in § 4-11-105, enabling virtual currency to be used as collateral for secured transactions

Allows security interests in virtual currencies to be perfected by filing or by control, making virtual currencies subject to the same perfection rules as other commercial collateral like deposit accounts and investment property

Creates Chapter 11 (Virtual Currency) defining virtual currency as a digital representation of value used as medium of exchange, unit of account, or store of value that is not legal tender, while excluding affinity rewards and in-game digital assets

Grants "qualifying purchasers" of virtual currency (those obtaining control for value without notice of adverse claims) priority over earlier security interests and protection from adverse claim actions similar to protections afforded holders in due course of negotiable instruments