Bill > H0328

This bill adds a new chapter to existing Idaho law to provide for the classification of digital assets as property and the application of the Uniform Commercial Code to digital assets. The key provisions are: 1. It defines different types of digital assets, including digital consumer assets, digital securities, and virtual currency, and classifies them as intangible personal property. 2. It outlines how security interests in digital assets can be perfected through possession or control, and how the location of digital assets is determined for purposes of the Uniform Commercial Code. 3. It authorizes financial institutions to provide custodial services for digital assets, subject to certain requirements and oversight by the Idaho Department of Finance. 4. It grants Idaho courts jurisdiction over claims related to digital assets arising from this new chapter and the Uniform Commercial Code. The overall purpose of the bill is to provide a legal framework for the treatment and custody of various types of digital assets in Idaho.

Business and Industry, Justice

Ways and Means Committee (House)

https://legislature.idaho.gov/sessioninfo/2021/legislation/H0328/