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Code · Utah · Title 7 — Financial Institutions Act · Chapter 29

7-29-104. Exemption from money transmission license.

105 words·~1 min read·/ut/title-7/chapter-29/7-29-104

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 5/7/2025
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
Technically renumbered to avoid duplication of newly enacted code also in SB0294, Chapter 482.
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