On Mar. 25, 2025, UTA LEG reported governor signed bill, effective on May 7, 2025.
On Mar. 7, UTA LEG passed bill on blockchain and digital innovation.
UTA LEG passed bill HB 230, Blockchain and digital innovation amendments, to create authority for the State treasurer to invest public funds in certain digital assets.
Prohibits state/local government from restricting acceptance/custody of digital assets.
The bill also creates new sections to establish the right to operate nodes, develop software, transfer digital assets, and participate in staking on blockchain protocols.
Creates money transmitter licensing requirement exemptions for certain activities.
Restricts the ability of political subdivisions to impose sound limitations or zoning restrictions on digital asset mining businesses that are within industrial zones.
Legislative History
On Jan. 15, 2025, bill introduced in the House; on Feb. 6, 2025, bill passed the House.
On Feb. 7, 2025, bill introduced in the Senate; on Mar. 7, 2025, bill passed Senate.
Effectiveness
Upon approval, this bill will take effect on May 7, 2025.
Mar. 25, 2025 UTA LEG Governor Approval
On Mar. 25, 2025, UTA LEG reported governor signed bill, effective on May 7, 2025.
