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

Utah Statutes

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

Utah § 7-29-104

Title 7Financial Institutions Act

Ch. 7-29Digital Asset and Blockchain Technology

Part 7-29-1General Provisions

This text of Utah § 7-29-104 (Exemption from money transmission license.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 7-29-104 (2026).

Text

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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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.