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House approves voluntary registry for non‑custodial blockchain providers amid questions about oversight
Summary
HB 289 creates a voluntary state registry for non‑custodial blockchain providers to enable money‑transmitter access and marketing; sponsors said the Regulatory Relief Office and a governor’s sandbox will vet applicants and remove bad actors; the House passed the bill after extensive floor questions 61‑10.
The Utah House voted to pass HB 289 on Feb. 6, a bill establishing a voluntary registry for non‑custodial blockchain‑wallet providers and clarifying oversight through the Regulatory Relief Office and the governor’s regulatory sandbox.
Representative Lee, sponsor on the floor, said the substitute clarifies that the Regulatory Relief Office will determine whether an applicant is a ‘bad actor’ and has the authority to remove companies that commit fraud. Lee said the registry would allow…
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