ArkansasProposed bill would bring digital asset miners under licensing rules
The proposed text would count covered digital asset mining as money transmission and require people already doing it when the act takes effect to apply for a license by September 1, 2026.
What it does
The proposed text would count home digital asset mining and covered mining businesses as money transmission. It also says it would repeal the stated exemption for that activity.
People mining digital assets at home or running a covered mining business when the act takes effect would have to apply for a money services license by September 1, 2026.
Argument forTreating mining as money transmission could give regulators a clearer way to oversee covered digital asset activity.
Argument againstCovered miners might face extra paperwork because they would have to apply for a money services license by a set deadline.
More detail
The proposed bill would repeal the stated exemption for home digital asset mining and mining businesses, and add that activity to the definition of money transmission. The provisions cover home digital asset mining and digital asset mining businesses under the Arkansas Data Centers Act of 2023.
People engaged in covered mining activity on the act’s effective date would have to apply for a money services license. It covers people doing that activity as of the act’s effective date. The requirement applies to people engaged in home digital asset mining or operating a mining business under the Arkansas Data Centers Act of 2023. Applications would be due on or before September 1, 2026.
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Where it stands
- Introduced
- Died
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 29Died in House Committee at Sine Die adjournment.Died
- Apr 8Read the first time, rules suspended, read the second time and referred to the Committee on HOUSE RULESMinor
- Apr 8FiledIntroduced
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