{"data":{"id":"us-ut/utah-code-13-62-101","jurisdiction":"us-ut","citation":"Utah Code § 13-62-101","heading":"Definitions.","body":"As used in this chapter:\n(1) \"Agent\" means a person who is authorized to act on behalf of an owner with respect to a digital asset.\n(2) \"Control\" means:\n(a) an owner or an agent has the exclusive legal authority to conduct a transaction relating to the digital asset, including by means of a private key or the use of a multi-signature arrangement the owner or agent authorizes; or\n(b) a secured party has created a smart contract that gives the secured party exclusive legal authority to conduct a transaction relating to a digital security.\n(3)\n(a) \"Digital asset\" means a representation of economic, proprietary, or access rights that is stored in a computer readable format.\n(b) \"Digital asset\" includes:\n(i) a digital user asset; or\n(ii) a digital security.\n(4) \"Digital security\" means a digital asset that constitutes a security, as that term is defined in Section 70A-8-101.\n(5)\n(a) \"Digital user asset\" means a digital asset that is used or bought primarily for consumptive, personal, or household purposes.\n(b) \"Digital user asset\" includes an open blockchain token.\n(c) \"Digital user asset\" does not include a digital security.\n(6) \"Multi-signature arrangement\" means a system of access control relating to a digital asset for the purposes of preventing unauthorized transactions relating to the digital asset, in which two or more private keys are required to conduct a transaction.\n(7) \"Private key\" means a unique element of cryptographic data that is:\n(a) held by a person;\n(b) paired with a public key; and\n(c) used to digitally sign a transaction.\n(8) \"Public key\" means a unique element of cryptographic data that:\n(a) is publicly available;\n(b) is paired with a private key that is held by the owner of the public key; and\n(c) allows viewing, but not digitally signing, electronic transactions.\n(9) \"Smart contract\" means a transaction that is comprised of code, script, or programming language that executes the terms of an agreement, and which may include taking custody of and transferring a digital asset, or issuing executable instructions for these actions, based on the occurrence or nonoccurrence of specified conditions.","path":["Title 13 Commerce and Trade","Chapter 13-62 Digital Asset Management Act","Part 13-62-1 General Provisions"],"source_url":"https://le.utah.gov/xcode/Title13/Chapter62/13-62-S101.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"39b36bbb9cedc0e70722b97c1e45f0ac8cc8e6167cf935a24924b97ba6aaf1f4","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-13-61-404","next":"us-ut/utah-code-13-62-102"},"notice":"GroundRules: Original legal text. Not legal advice."}