Texas Finance Code

§ 160.001 — DEFINITIONS

FI § 160.001Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 160. DIGITAL ASSET SERVICE PROVIDERS

Statute text

View on source

In this chapter:

(1)"Commission" means the Finance Commission of Texas.

(2)"Customer funds" means the digital assets, fiat currency, or other property deposited by a digital asset customer.

(3)"Department" means the Texas Department of Banking.

(4)"Digital asset" means a natively electronic asset that confers economic, proprietary, or access rights and is recorded or stored in a blockchain, cryptographically secured distributed ledger, or similar technology, and includes:

(A)a digital asset that the laws of any country consider to be legal tender; or

…

Legislative history

Added by Acts 2023, 88th Leg., R.S., Ch. 419 (H.B. 1666), Sec. 1, eff. September 1, 2023.