Idaho Code > Title 28 > Chapter 53 – Digital Assets
Current as of: 2023 | Check for updates
|
Other versions
| 28-5301 | Short Title |
| 28-5302 | Scope |
| 28-5303 | Definitions |
| 28-5304 | Classification of Digital Assets |
| 28-5305 | Purchase and Sale |
| 28-5306 | Perfection by Possession or Control |
Terms Used In Idaho Code > Title 28 > Chapter 53 - Digital Assets
- Adverse claim: means a claimant that has a property interest in a virtual currency or a right to payment evidenced by the virtual currency. See Idaho Code 28-5303
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Control: means the ability to exclude others from the use of property and includes the following:
Idaho Code 28-5303Digital asset: means a representation of economic, proprietary, or access rights that is stored in a computer-readable format and includes an open blockchain token, digital commodity, digital security, virtual currency, and any other controllable electronic record. See Idaho Code 28-5303 Digital security: means a digital asset that constitutes a security as defined in section 30-14-102, Idaho Code. See Idaho Code 28-5303 Fiduciary: A trustee, executor, or administrator. Multi-signature arrangement: means a system of access control relating to a digital asset for the purposes of preventing unauthorized transactions relating to the asset in which two (2) or more private keys are required to conduct a transaction or any other substantially similar analogue. See Idaho Code 28-5303 person: includes a corporation as well as a natural person;
Idaho Code 73-114Personal property: All property that is not real property. Personal property: includes money, goods, chattels, things in action, evidences of debt and general intangibles as defined in the uniform commercial code — secured transactions. See Idaho Code 73-114 Possession: includes use of a private key, a multi-signature arrangement exclusive to the secured party, a smart contract as defined in this section, or any substantially similar analogue. See Idaho Code 28-5303 Private key: means a unique element of cryptographic data or any substantially similar analogue that is:
Idaho Code 28-5303Property: includes both real and personal property. See Idaho Code 73-114 smart contract: means an automated transaction as described in section 28-50-114, Idaho Code, or any substantially similar analogue comprised of code, script, or programming language that executes the terms of an agreement and may include taking custody of and transferring an asset or issuing executable instructions for these actions, based on the occurrence or nonoccurrence of specified conditions. See Idaho Code 28-5303 State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114 Trustee: A person or institution holding and administering property in trust. Virtual currency: means a digital asset that is used as a medium of exchange, unit of account, or store of value. See Idaho Code 28-5303