Utah Code Title 13. Commerce and Trade § 13-62-101. Definitions

(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

(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.

(3)(a) “Digital asset” means a representation of economic, proprietary, or access rights that is stored in a computer readable format.

(b) “Digital asset” includes:

(5)(a) “Digital user asset” means a digital asset that is used or bought primarily for consumptive, personal, or household purposes.

(b) “Digital user asset” includes an open blockchain token.

(c) “Digital user asset” does not include a digital security.

(a) held by a person;

(b) paired with a public key; and

(c) used to digitally sign a transaction.

(a) is publicly available;

(b) is paired with a private key that is held by the owner of the public key; and

(c) allows viewing, but not digitally signing, electronic transactions.