The bill amends the Arkansas Data Centers Act of 2023 and the Uniform Money Services Act by repealing the existing exemption for individuals engaged in home digital asset mining or operating a digital asset mining business. Specifically, it removes the provision that such individuals are not considered money transmitters under the Uniform Money Services Act. This change reflects a shift in regulatory oversight for digital asset mining activities.

Additionally, the bill introduces new definitions and requirements for individuals involved in digital asset mining. It adds to the definition of "money transmission" to include engaging in home digital asset mining or operating a digital asset mining business under the Arkansas Data Centers Act. Furthermore, it mandates that individuals involved in these activities must apply for licensure under the Uniform Money Services Act by September 1, 2026, thereby ensuring that they are subject to regulatory compliance moving forward.

Statutes affected:
SB 11: 14-1-604(e), 23-55-102(13)