The resolution authorizes Senator King to introduce a nonappropriation bill aimed at amending the Arkansas Data Centers Act of 2023 and the Uniform Money Services Act. The proposed legislation seeks to repeal the current exemption for individuals engaged in home digital asset mining or operating a digital asset mining business, which previously exempted them from being classified as money transmitters under the Uniform Money Services Act.

Additionally, the bill will redefine "money transmission" to include activities related to home digital asset mining and operating a digital asset mining business under the Arkansas Data Centers Act. It also establishes a requirement for individuals engaged in these activities to apply for licensure under the Uniform Money Services Act by September 1, 2024, ensuring that they comply with the regulatory framework governing money transmission in the state.

Statutes affected:
SR 13: 14-1-604(e), 23-55-102(13)