Tex. Finance Code § 160.003: APPLICABILITY.

(a) This chapter applies to a digital asset service provider doing business in this state that:

(1) holds a money transmission license under Subchapter D, Chapter 151; and

(2) either:

(A) serves more than 500 digital asset customers in this state; or

(B) has at least $10 million in customer funds.

(b) This chapter does not apply to:

(1) a bank, as defined by Section 31.002; or

(2) an entity excluded by commission rule or by order of the banking commissioner based on a finding that the entity is:

(A) not required to hold a money transmission license under Subchapter D, Chapter 151; or

(B) not subject to the requirements of this chapter.

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