How SR 13 changes current law

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill repeals an existing exemption for home digital asset mining under the Uniform Money Services Act and introduces new licensure requirements for such activities.

• 14-1-604

  (e) A person that is engaged in home digital asset mining or that has a digital asset mining business shall not be considered a money transmitter under the Uniform Money Services Act, § 23-55-101 et seq.

  This change removes the exemption that allowed home digital asset miners to operate without being classified as money transmitters.

• 23-55-102(13)(A)

  (v) engaging in home digital asset mining or operating a digital asset mining business under the Arkansas Data Centers Act of 2023, § 14-1-601 et seq.

  This addition expands the definition of 'money transmission' to include home digital asset mining and related business activities.