S.B. 298
Signed into LawProgrammable Money Amendments
SB0298S02 (Substitute)
Programmable Money Amendments
Introduction
Feb 17
Senate Rules
Senate Committee
Feb 19
Senate 2nd Reading
Feb 26
Senate 3rd Reading
Feb 27
House Rules
Mar 3
House Committee
Mar 3
House Floor Vote
Mar 6
Governor Signed
Mar 19
What This Bill Does
This bill modifies the Uniform Commercial Code.
Key Provisions
This bill:
- defines terms;
- excludes programmable money from the standard definition of money;
- prohibits a person from requiring the use of programmable money for a transaction unless the person also offers a free, non-digital alternative;
- outlaws an issuer denying a transaction based on discriminatory criteria, including a person's political opinions, religious beliefs, medical history, or lawful ownership of a firearm;
- prevents an issuer from using environmental, social, or governance standards and diversity programming compliance as a basis for failing or restricting a transaction;
- requires an issuer to provide a detailed written statement of the specific reason for a denied transaction or terminated service within 30 days of an affected party's request;
- grants an aggrieved party the right to seek punitive damages or the revocation of an issuer's business authorization; and
- does not prohibit the purchase or sale of cryptocurrency or other assets by public or private parties.
Plain-Language Summary
AI-generated summary. We recommend consulting the bill text for important decisions.
Targeting concerns about government-controlled digital currency, this bill amends Utah's commercial code to formally define "programmable money" — currency that can be encoded with rules to automatically control or restrict how, where, or by whom it is spent — and excludes it, along with central bank digital currencies, from the legal definition of money. The bill prohibits anyone from requiring the use of programmable money in a transaction unless they also offer a free, non-digital alternative, and it bars issuers of programmable money from blocking or restricting transactions based on a person's political views, religious beliefs, medical history, gun ownership, involvement in fossil fuel industries, or failure to comply with environmental, social, or diversity standards. If an issuer denies a transaction, it must provide a detailed written explanation within 30 days upon request, and people harmed by violations can sue for punitive damages of at least three times actual damages, with courts also having the power to revoke a violating company's authorization to operate in Utah.
S.B. 298
Signed into LawProgrammable Money Amendments
Current version: SB0298S02 (Substitute)
Introduction
Feb 17
Senate Rules
Senate Committee
Feb 19
Senate 2nd Reading
Feb 26
Senate 3rd Reading
Feb 27
House Rules
Mar 3
House Committee
Mar 3
House Floor Vote
Mar 6
Governor Signed
Mar 19
IntroductionFeb 17
Senate Rules
Senate CommitteeFeb 19
Senate 2nd ReadingFeb 26
Senate 3rd ReadingFeb 27
House RulesMar 3
House CommitteeMar 3
House Floor VoteMar 6
Governor SignedMar 19
What This Bill Does
This bill modifies the Uniform Commercial Code.
Key Provisions
This bill:
- defines terms;
- excludes programmable money from the standard definition of money;
- prohibits a person from requiring the use of programmable money for a transaction unless the person also offers a free, non-digital alternative;
- outlaws an issuer denying a transaction based on discriminatory criteria, including a person's political opinions, religious beliefs, medical history, or lawful ownership of a firearm;
- prevents an issuer from using environmental, social, or governance standards and diversity programming compliance as a basis for failing or restricting a transaction;
- requires an issuer to provide a detailed written statement of the specific reason for a denied transaction or terminated service within 30 days of an affected party's request;
- grants an aggrieved party the right to seek punitive damages or the revocation of an issuer's business authorization; and
- does not prohibit the purchase or sale of cryptocurrency or other assets by public or private parties.
Plain-Language Summary
AI-generated summary. We recommend consulting the bill text for important decisions.
Targeting concerns about government-controlled digital currency, this bill amends Utah's commercial code to formally define "programmable money" — currency that can be encoded with rules to automatically control or restrict how, where, or by whom it is spent — and excludes it, along with central bank digital currencies, from the legal definition of money. The bill prohibits anyone from requiring the use of programmable money in a transaction unless they also offer a free, non-digital alternative, and it bars issuers of programmable money from blocking or restricting transactions based on a person's political views, religious beliefs, medical history, gun ownership, involvement in fossil fuel industries, or failure to comply with environmental, social, or diversity standards. If an issuer denies a transaction, it must provide a detailed written explanation within 30 days upon request, and people harmed by violations can sue for punitive damages of at least three times actual damages, with courts also having the power to revoke a violating company's authorization to operate in Utah.
Votes
Motion: Favorable Recommendation
Motion: Favorable Recommendation
Documents
Floor Debates
Committee Hearings
Other Versions
Subjects
Action History51
Governor Signed
Lieutenant Governor's office for filing
Senate/ to Governor
Executive Branch - Governor
Senate/ received enrolled bill from Printing
Senate Secretary
Senate/ enrolled bill to Printing
Senate Secretary
Enrolled Bill Returned to House or Senate
Senate Secretary
Last updated Mar 26, 2026, 9:45 PM
