1. (1)

   1. (a) Subject to Subsection (1)(b), an applicant for placement on the registry shall provide to the regulatory relief office:

      1. (i) an application in a form prescribed by the regulatory relief office; and
      2. (ii) a fee established by the regulatory relief office in accordance with Section 63J-1-504.

   2. (b) The application shall include:

      1. (i) a place for the name of the applicant, including any trade name used by the applicant in the conduct of the applicant's business;
      2. (ii) a place for a description of the activities conducted by the applicant in the state;

      3. (iii) a place for the applicant to list the applicant's:

         1. (A) authorized agents in the state, if any; and
         2. (B) website URL;
      4. (iv) a description of general noncustodial blockchain company activities;
      5. (v) a place for the applicant to acknowledge that the applicant is a noncustodial blockchain company; and

      6. (vi) a statement notifying the applicant that the applicant may be removed from the registry if the applicant:

         1. (A) ceases to operate as a noncustodial blockchain company; or
         2. (B) engages in unlawful activity.

2. (2)

   1. (a) Upon receipt of the application and fee described in Subsection (1), the regulatory relief office shall:

      1. (i) place the applicant on the registry; and
      2. (ii) issue a certificate of registration to the applicant.
   2. (b) A noncustodial blockchain company's registration expires one year after the day on which the noncustodial blockchain company is placed on the registry.

   3. (c) A noncustodial blockchain company may renew the noncustodial blockchain company's registration by providing to the regulatory relief office:

      1. (i) a renewal application in a form prescribed by the regulatory relief office; and
      2. (ii) a renewal fee established by the regulatory relief office in accordance with Section 63J-1-504.

3. (3) A registered noncustodial blockchain company:

   1. (a) shall immediately provide written notice to the regulatory relief office upon ceasing to operate as a noncustodial blockchain company; and
   2. (b) may request removal from the registry in writing.

4. (4) The regulatory relief office shall remove a registered noncustodial blockchain company from the registry if:

   1. (a) the noncustodial blockchain company's registration expires without renewal;
   2. (b) the noncustodial blockchain company provides the notice or request described in Subsection (3); or
   3. (c) the regulatory relief office knows or has reason to know the noncustodial blockchain company is engaging in unlawful activity.

Enacted by Chapter 77, 2023 General Session