Tex. Government Code § 403.701: DEFINITIONS.

In this subchapter:

(1) "Airdrop" means a gratuitous distribution of cryptocurrency to persons who hold cryptocurrency, generally made in a broad, equitable, and nondiscretionary manner.

(2) "Bitcoin" means a type of decentralized cryptocurrency created by a peer-to-peer network that operates independently of any central authority or bank.

(3) "Cold storage" means a method of storing private keys required to engage in transactions involving cryptocurrency that:

(A) has a nexus to a secure physical location;

(B) is protected from unauthorized access; and

(C) is isolated from any Internet network connections.

(4) "Cryptocurrency" means a type of virtual currency that utilizes cryptography to secure transactions that are digitally recorded on a distributed ledger, such as a blockchain.

(5) "Fork" means a change to the consensus mechanism of a distributed ledger that creates a separate ledger, which may result in a new cryptocurrency that shares a common transaction history with the previous cryptocurrency up to the point of the change.

(6) "Qualified custodian" means a state or federally chartered financial institution or other entity regulated by this state that has custody of a virtual currency.

(7) "Reserve" means the Texas Strategic Bitcoin Reserve established under this subchapter.

(8) "Virtual currency" has the meaning assigned by Section 12.001, Business & Commerce Code.

Added by Acts 2025, 89th Leg., R.S., Ch. 957 (S.B. 21), Sec. 2, eff. June 20, 2025.