Utah Statutes
§ 7-29-104 — Exemption from money transmission license.
Utah·Title 7 Financial Institutions Act·Ch. 7-29 Digital Asset and Blockchain Technology·Part 7-29-1 General Provisions
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:
(3)(a) effectuates the exchange of one digital asset for another digital asset; and
(3)(b) does not exchange digital assets for legal tender or bank deposits.
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Legislative History
Enacted by Chapter 228, 2025 General Session
Nearby Sections
15
§ 7-1-1001
Definitions -- Written consent or court order for disclosure by financial institution -- Exception.§ 7-1-1005
Admissibility of information restricted.§ 7-1-1007
Liability of financial institutions.§ 7-1-101
Title.§ 7-1-103
Definitions.§ 7-1-103.5
Control.