Utah § 7-29-101 Definitions.

Utah Statutes

§ 7-29-101 — Definitions.

Utah·Title 7 Financial Institutions Act·Ch. 7-29 Digital Asset and Blockchain Technology·Part 7-29-1 General Provisions

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:

(2)(a) virtual currency;

(2)(b) cryptocurrency;

(2)(c) natively electronic assets, including:

(2)(c)(i) stablecoins; and

(2)(c)(ii) non-fungible tokens; or

(2)(d) other digital-only assets that confer economic, proprietary, or access rights or powers.

(3)"Hardware wallet" means a physical device that:

(3)(a) is not continuously connected to the Internet;

(3)(b) allows an individual to secure and transfer digital assets; and

(3)(c) enables the owner of digital assets to retain ind

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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:
(2)(a) virtual currency;
(2)(b) cryptocurrency;
(2)(c) natively electronic assets, including:
(2)(c)(i) stablecoins; and
(2)(c)(ii) non-fungible tokens; or
(2)(d) other digital-only assets that confer economic, proprietary, or access rights or powers.
(3) "Hardware wallet" means a physical device that:
(3)(a) is not continuously connected to the Internet;
(3)(b) allows an individual to secure and transfer digital assets; and
(3)(c) enables the owner of digital assets to retain independent control over the digital assets.

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