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Arkansas Code Title 14. Local Government § 14-1-604. Digital asset mining

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) A digital asset mining business may operate in this state if the digital asset mining business complies with:

(1) State law concerning business guidelines and tax policies;

(2) Any ordinance concerning operations and safety;

(3) Any rule or rate for utility service provided by or on behalf of a public entity; and

(4) State and federal employment laws.

(b) A digital asset miner shall:

(1) Pay applicable taxes and government fees in acceptable forms of currency; and

(2) Operate in a manner that causes no stress on an electric public utility's generation capabilities or transmission network.

(c) An individual may utilize a node in this state for the purpose of operating home digital asset mining at the individual's residence according to applicable utility rules and rates.

(d) A person may have a digital asset mining business in an area that is zoned for industrial use that has not been designated by the local government for other uses.

(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.

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Cite this article: FindLaw.com - Arkansas Code Title 14. Local Government § 14-1-604. Digital asset mining - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-14-local-government/ar-code-sect-14-1-604/

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