Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Finance Code § 160.001: DEFINITIONS.

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
(B) virtual currency as defined by Section 12.001, Business & Commerce Code.
(5) "Digital asset customer" means a person who deposits fiat currency or a digital asset with a digital asset service provider.
(6) "Digital asset service provider" means an electronic platform that facilitates the trading of digital assets on behalf of a digital asset customer and maintains custody of the customer's digital assets.
Added by Acts 2023, 88th Leg., R.S., Ch. 419 (H.B. 1666), Sec. 1, eff. September 1, 2023.

Where this section sits in the code

FINANCE CODE
TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES
SUBTITLE E. OTHER FINANCIAL BUSINESSES
CHAPTER 160. DIGITAL ASSET SERVICE PROVIDERS

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

(B) virtual currency as defined by Section 12.001, Business & Commerce Code.

(5) "Digital asset customer" means a person who deposits fiat currency or a digital asset with a digital asset service provider.

(6) "Digital asset service provider" means an electronic platform that facilitates the trading of digital assets on behalf of a digital asset customer and maintains custody of the customer's digital assets.

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

Collected 2026-08-27T01:47:13Z. Source file · JSON

Browse this collection