Utah introduces Bill SB0213 for Blockchain tech companies

Legislators from the state of Utah, U.S. officially introduced a bill “UT SB0213” that would prevent blockchain technology companies from being classified as money transmitters.

Last week, Daniel Hemmert, a Republican senator, filed Senate Bill 213 suggesting that an individual that participates or helps in the “creation, exchange or sale” of particular distributed ledger technology (DLT)-related items should be exempted from the Money Transmitter Act of the state.  

The bill  also aims at creating a legislative group known as “Blockchain Pilot Project Evaluation Task Force” to properly revise and examine the potential of this innovative technology in government services.