7-29-101. Definitions.
146 words·~1 min read·
/ut/title-7/chapter-29/7-29-101A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/7/2025
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.