Share this article
Utah Bill Would Exempt Blockchain Firms from Money Transmitter Act
A senator from the U.S. state of Utah has introduced a bill to exempt blockchain firms from being classed as money transmitters.
Updated Sep 13, 2021, 8:57 a.m. Published Mar 4, 2019, 9:05 a.m.
A lawmaker from the U.S. state of Utah has introduced a bill that would stop blockchain firms from being classed as money transmitters.
Republican senator Daniel Hemmert filed senate bill 213 last week, proposing that any person who “facilitates the creation, exchange, or sale” of certain blockchain-related products should be exempted from the state's Money Transmitter Act.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The bill also aims to create a legislative group called the “Blockchain Pilot Project Evaluation Task Force” to study the potential of the technology in government services.
The 12-member task force would also recommend a pilot project using the technology in Utah at a state or municipal level and examine commercial applications of blockchain for "future economic development in Utah."
Finally, it will prepare a report, including any proposed legislation, to the Business and Labor Interim Committee and the Legislative Management Committee, on or before Nov. 30.
In a similar move, Pennsylvania clarified that crypto exchanges and service providers do not require a money transmission license to operate in the state in January.
However, North Carolina state took the opposite stance in 2016, passing an update to the state’s Money Transmitters Act that mandated that companies working with bitcoin and other cryptocurrencies obtain a money transmitter license.
Utah State Capitol image via Shutterstock
Sizin için daha fazlası
Bilinmesi gerekenler:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Sizin için daha fazlası
Trump Media stock surges 25% on merger agreement with nuclear fusion firm TAE Technologies
Trump Media and Technology Group has more than 11,500 bitcoin on its balance sheet worth roughly $1 billion at current prices.
Bilinmesi gerekenler:
- Trump Media & Technology Group (DJT), the parent of Truth Social, has agreed to with TAE Technologies in an all-stock deal valued at over $6 billion.o a merger
- The merger will transform Trump Media from a social media operator to a clean energy and financial assets company.
- Trump Media has been expanding its crypto offerings, including partnering with Crypto.com, launching crypto-linked ETFs, and building a large crypto balance sheet with 11,542 BTC worth around $1.02 billion.
Top Stories
