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AR SB11
Bill
Status
5/5/2025
Primary Sponsor
Bryan King
Click for details
AI Summary
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Repeals the exemption that previously allowed home digital asset miners and digital asset mining businesses to avoid being classified as money transmitters under the Uniform Money Services Act
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Adds home digital asset mining and operating a digital asset mining business to the definition of activities that do NOT constitute "money transmission" under § 23-55-102(13)(A)
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Requires persons currently engaged in home digital asset mining or operating digital asset mining businesses to apply for licensure under the Uniform Money Services Act by September 1, 2026
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Amends both the Arkansas Data Centers Act of 2023 (§ 14-1-601 et seq.) and the Uniform Money Services Act (§ 23-55-101 et seq.)
Legislative Description
To Amend The Arkansas Data Centers Act Of 2023; And To Amend The Uniform Money Services Act.
Last Action
Died in Senate Committee at Sine Die adjournment.
5/5/2025