General Provisions

Utah Code tit. 7, ch. 7-29, pt. 7-29-P1

in effect

Utah Code § 7-29-101 Definitions.

7-29-101. Definitions. As used in this chapter: (1) "Blockchain protocol" means any executable software deployed to enable the transfer of data and electronic records through a distributed network of nodes, including an additional standardized set of rules that uses a previously existing blockchain as a base. (2) "Digital asset" means: (a) virtual currency; (b) cryptocurrency; (c) natively electronic assets, including: (i) stablecoins; and (ii) non-fungible tokens; or (d) other digital-only assets that confer economic, proprietary, or access rights or powers. (3) "Hardware wallet" means a physical device that: (a) is not continuously connected to the Internet; (b) allows an individual to secure and transfer digital assets; and (c) enables the owner of digital assets to retain independent control over the digital assets. Enacted by Chapter 228, 2025 General Session

Utah Code § 7-29-102 Permitted uses of digital assets.

7-29-102. Permitted uses of digital assets. A state or local governmental entity may not prohibit, restrict, or impair a person's ability to: (1) accept digital assets as a method of payment for legal goods and services; or (2) take custody of digital assets using: (a) a self-hosted wallet; or (b) a hardware wallet. Enacted by Chapter 228, 2025 General Session

Utah Code § 7-29-103 Access to blockchain protocols and transfer of digital assets.

7-29-103. Access to blockchain protocols and transfer of digital assets. A person may: (1) operate a node for the purpose of: (a) connecting to a blockchain protocol; and (b) participating in the blockchain protocol's operations; (2) develop software on a blockchain protocol; (3) transfer digital assets to another individual or business utilizing a blockchain protocol; or (4) participate in staking on a blockchain protocol. Enacted by Chapter 228, 2025 General Session

Utah Code § 7-29-104 Exemption from money transmission license.

7-29-104. Exemption from money transmission license. The following activities do not require an individual or business to obtain a money transmitter license under Title 7, Chapter 25, Money Transmitter Act: (1) operating one or more nodes on a blockchain protocol; (2) developing software on a blockchain protocol; or (3) operating a business or decentralized protocol that: (a) effectuates the exchange of one digital asset for another digital asset; and (b) does not exchange digital assets for legal tender or bank deposits. Enacted by Chapter 228, 2025 General Session

Source: Utah Office of Legislative Research and General Counsel (le.utah.gov)URL: https://le.utah.gov/xcode/Title7/Chapter29/7-29-P1.html?v=C7-29-P1_2025050720250507Fetched: 10/26/2026