Arkansas Code Title 4. Business and Commercial Law § 4-56-107. Digital currency--Legislative findings--Prohibited--Definitions

(1) Digital currency may be used for many common things, including without limitation payment applications or through online transactions;

(2) Individuals feel strongly about their right to privacy;

(3) An individual may be tracked through the use of digital currency concerning purchases and locations; and

(4) Tracking an individual without his or her knowledge and consent or a legal right to do so should be prohibited.

(1) “Central bank” means a financial institution given privileged control over the production and distribution of money and credit for the United States;

(2) “Central bank digital currency” means a digital form of central bank money that is available to the general public;

(3) “Central bank money” means legal tender that is a liability of the central bank; and

(1) A warrant has been issued in a criminal or civil court case that expressly authorizes the tracking of the individual's purchases; or

(2) The individual knows and consents to the digital currency tracker.

(d)(1) The Right to Financial Privacy Act of 1978, Pub. L. No. 95-630,  1 restricts the ability of a government authority to access or obtain the financial records of a customer of a financial institution.

(2) The Right to Financial Privacy Act of 1978, Pub. L. No. 95-630, provides exceptions for when a financial institution does not need customer consent for the disclosure, including if a legitimate law enforcement inquiry is submitted to the financial institution.

(3) To the extent the disclosure authority is restricted by a state statute that limits the ability of a financial institution to share information relating to a legitimate law enforcement inquiry, it could be determined to conflict with the Right to Financial Privacy Act of 1978, Pub. L. No. 95-630, and would be subject to challenge under federal law.