---
title: Utah House passes gold and silver electronic currency
description: Utah passes gold backed electronic currency
---

[Transactional Gold State News ](https://transactionalgold.com/transactional-gold)

# [Utah House passes gold and silver electronic currency](https://transactionalgold.com/transactional-gold/utah-house-passes-gold-and-silver-electronic-currency)

 Written by [Transactional Gold Team](https://transactionalgold.com/transactional-gold/author/transactional-gold-team) | Feb 13, 2025 6:00:00 AM

The Utah House unanimously passed HB306, a bill to establish a state-backed electronic payment system using gold and silver. This system would allow vendors doing business with the state to receive payments in electronic gold or silver, fully backed by physical metal, with the option to redeem it. While initially limited to state vendors, the system could pave the way for broader public use of gold and silver for payments. This builds on Utah’s long-standing efforts to promote sound money, including its 2011 Specie Legal Tender Act, which led to the development of a gold-based economy.

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