63N-16-401. Definitions.
| (1) |
“Blockchain company” means an entity that uses blockchain technology to facilitate financial transactions between users. |
Terms Used In Utah Code 63N-16-401
- Blockchain technology: means the use of a digital database containing records of financial transactions, which can be simultaneously used and shared within a decentralized, publicly accessible network and can record transactions between two parties in a verifiable and permanent way. See Utah Code 63N-16-102
- Person: means :Utah Code 68-3-12.5
| (2) |
“Noncustodial blockchain company” means a blockchain company that does not have possession or control of a user’s private key. |
| (3) |
“Private key” means the same as that term is defined in Section 13-62-101. |
| (4) |
“Registry” means the Noncustodial Blockchain Registry described in Section 63N-16-402. |
| (5) |
“User” means a person who engages in a financial transaction through a blockchain company. |
Enacted by Chapter 77, 2023 General Session
