Ark. Code § 4-11-102

Current with legislation from 2024 effective through May 3, 2024.

Section 4-11-102 - Definitions

In this chapter, "virtual currency":

(1) means a digital representation of value that:

(A) is used as a medium of exchange, unit of account, or store of value; and

(B) is not legal tender, whether or not denominated in legal tender; and

(2) does not include:

(A) a transaction in which a merchant grants, as part of an affinity or rewards program, value that cannot be taken from or exchanged with the merchant for legal tender, bank credit, or virtual currency; or

(B) a digital representation of value issued by or on behalf of a publisher and used solely within an online game, game platform, or family of games sold by the same publisher or offered on the same game platform.

Ark. Code § 4-11-102

Added by Act 2021, No. 1078,§ 7, eff. 7/28/2021.