HR1011
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023 And To Amend The Uniform Money Services Act.
Last Action (April 8, 2026): Read the first time, rules suspended, read the second time and referred to the Committee on HOUSE RULES
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AI-Generated Summary
House Resolution 1011 authorizes the introduction of a bill to modify the Arkansas Data Centers Act of 2023 and the Uniform Money Services Act. The proposed bill repeals an existing exemption that prevented digital asset mining businesses and home miners from being classified as money transmitters. It subsequently amends the definition of 'money transmission' under the Uniform Money Services Act to explicitly include digital asset mining activities. Finally, the bill requires all existing digital asset mining businesses and individuals engaged in such activities to apply for licensure under the Uniform Money Services Act by September 1, 2026.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries include state regulators who will have increased oversight and regulatory authority over digital asset mining operations, as well as the financial system, which may benefit from enhanced transparency, compliance, and consumer protection measures associated with money transmitter licensing.
Who Might Suffer?
The primary entities negatively impacted are businesses and individuals currently engaged in home digital asset mining or operating digital asset mining data centers in Arkansas. These entities will face new regulatory burdens, including the costs and administrative requirements associated with applying for and maintaining a money transmitter license.
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