Signed by Governor Spencer Cox

Vote Smart's Synopsis:

Vote to concur with Senate amendments and pass a bill that expands the acceptance of digital user asset payments.

Highlights:

• Defines digital user assets as those used for consumptive, personal, household purposes (ex. blockchain) (Utah Code § 63A-3-112).

• Requires Division of Finance to contract w/ service provider to process digital user asset payments (§ 63A-3-112).

• Authorizes Division to promulgate rules (§ 63A-3-112).

• Authorizes processing of such payments for state agencies, political subdivisions (§ 63A-3-112).

• Establishes effective date of July 1, 2022 (Sec. 2).

Full Bill Text