Ark. Code § 23-119-102

Current with legislation from 2024 Fiscal and Special Sessions.

Section 23-119-102 - Definitions

As used in this chapter:

(1) "Blockchain network" means a group of computers operating and processing together to execute a consensus mechanism to agree upon and verify data in a digital record for the purpose of generating digital assets;

(2) "Digital assets" means cryptocurrency, virtual currency, and natively electronic assets, including without limitation stable coins, nonfungible tokens, and other digital-only assets, that confer economic rights or powers;

(3) "Digital asset mining business" means a group of computers working at a single site that consumes more than one megawatt (1 MW) of electrical energy on an average annual basis for the purpose of generating digital assets by securing a blockchain network; and

(4) "Local government" means a county, a city of the first class, a city of the second class, or an incorporated town.

Ark. Code § 23-119-102

Added by Act 2024, No. 174,§ 4, eff. 5/3/2024.