Utah payments and fintech laws

What it would do: Imposes a 2% tax on international money transmissions by licensed money transmitters beginning January 1, 2027, exempting customers who present valid identification, with quarterly remittance to the State Tax Commission and annual reporting requirements.

What it would do: Imposes a 2% tax on international money transmissions by customers on or after January 1, 2026, collected by licensed money transmitters, with exemption for customers presenting valid identification. Establishes income tax credit for individuals paying the tax and requires quarterly remittance and annual reporting by licensees.

What it would do: Requires suppliers and government entities that accept digital or card payments at physical points of sale to also accept cash payments, with at least one cash-accepting location per place of business, exempting suppliers with fewer than ten employees.

What it would do: This bill restricts employment, financial services, and public benefits for unauthorized aliens in Utah, requires verification of immigration status for various licenses and services, mandates law enforcement cooperation with federal immigration authorities, and creates new criminal penalties for employing multiple unauthorized aliens.

What it would do: Permits institutions of higher education and local education agencies to collect a fee from persons making electronic payments to recover credit card processing costs charged by credit card companies or processing agents.

What it would do: Requires virtual currency kiosk operators to obtain money transmitter licenses, register kiosks, and comply with transaction limits of $1,000 per customer per day and $2,000 for customers with fewer than five prior transactions, caps transaction fees at 3%, and mandates fraud warnings and customer service availability.