Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee advances blockchain bill allowing limited state treasurer investments and zoning parity for mining
Summary
The Senate Revenue and Taxation Committee voted 4–2 to advance second substitute House Bill 230 to the floor; the bill updates state law on digital assets, treats crypto mining the same as other industrial uses in industrial zones, and allows narrowly constrained treasurer investments in qualifying digital assets for specified long‑term funds.
The Senate Revenue and Taxation Committee gave a favorable recommendation to second substitute House Bill 230, the Blockchain Digital Innovation Amendments, sending the bill toward the Senate floor by a 4–2 margin after extended discussion and public comment.
Representative Tuscher, sponsor of the measure, said the bill grows out of a three‑year Blockchain and Digital Innovation Task Force intended to modernize Utah law for digital‑asset businesses. The bill has three primary components: clarifying state treatment of digital assets, ensuring zoning parity so digital‑asset mining in industrial areas is treated the same as other industrial uses, and allowing the state treasurer limited authority to invest certain long‑term portfolios in qualifying digital assets under strict custody…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
