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Utah Bills Exempt Blockchain Companies From Money Transmitter Act

Liang CHE

Summary: According to coindesk.com, legislators from Utah have proposed a bill that will make blockchain companies not classified as money transmitters. Republican Senator Daniel Hemmert filed Senate Bill 213 last week, suggesting that anyone who "promotes the creation, exchange, or sale" of certain blockchain-related products should not be subject to the state's Money Transmitter Act.

According to coindesk.com, legislators from Utah have proposed a bill that will make blockchain companies not classified as money transmitters. Republican Senator Daniel Hemmert filed Senate Bill 213 last week, suggesting that anyone who "promotes the creation, exchange, or sale" of certain blockchain-related products should not be subject to the state's Money Transmitter Act.