Go to Other Versions of The
Utah Code
2025 Utah Code
Title 7 - Financial Institutions Act
Chapter 29 - Digital Asset and Blockchain Technology
Part 1 - General Provisions
Section 101 - Definitions.
Universal Citation:
UT Code § 7-29-101 (2025)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
Effective 5/7/2025
7-29-101. Definitions.
As used in this chapter:
Enacted by Chapter 228, 2025 General Session
Technically renumbered to avoid duplication of newly enacted code also in SB0294, Chapter 482.
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
Technically renumbered to avoid duplication of newly enacted code also in SB0294, Chapter 482.
Disclaimer: These codes may not be the most recent version. Utah may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
