Texas Business & Commerce Code

§ 12.001 — DEFINITION

BC § 12.001Title 1. UNIFORM COMMERCIAL CODE · Ch. 12. VIRTUAL CURRENCY

Statute text

View on source

In this chapter, "virtual currency":

(1)means a digital representation of value that:

(A)is used as a medium of exchange, unit of account, or store of value; and

(B)is not legal tender, whether or not denominated in legal tender; and

(2)does not include:

(A)a transaction in which a merchant grants, as part of an affinity or rewards program, value that cannot be taken from or exchanged with the merchant for legal tender, bank credit, or virtual currency; or

…

Legislative history

Added by Acts 2021, 87th Leg., R.S., Ch. 739 (H.B. 4474), Sec. 9, eff. September 1, 2021.