UT SB0298

Excludes "programmable money" and "central bank digital currency" (CBDC) from Utah's legal definition of money under the Uniform Commercial Code, defining programmable money as currency with encoded rules that can deny transactions, restrict usage, expire, or implement social credit scores

Prohibits requiring programmable money for transactions unless a free non-digital alternative is offered, and bars issuers from denying transactions based on political opinions, religious beliefs, medical history, firearm ownership, ESG compliance, or diversity program participation

Requires issuers who deny transactions to provide a detailed written statement of specific reasons within 30 days upon request, including citations to terms of service and contact information for follow-up

Creates a private right of action allowing aggrieved parties to sue for actual damages, punitive damages (three times actual damages or attorney fees), and reasonable attorney fees, with courts authorized to revoke business authorization for intentional or repeated violations

Takes effect May 5, 2027, and explicitly does not prohibit the purchase or sale of cryptocurrency or other assets by public or private parties