{"data":{"id":"us-tx/tex.-business-commerce-code-12.003","jurisdiction":"us-tx","citation":"Tex. Business \u0026 Commerce Code § 12.003","heading":"RIGHTS IN VIRTUAL CURRENCY.","body":"(a) In this section:\n(1) \"Adverse claim\" means a claim that a claimant has a property interest in a virtual currency and that it is a violation of the rights of the claimant for another person to hold, transfer, or deal with the virtual currency.\n(2) \"Qualifying purchaser\" means a purchaser that obtains control of a virtual currency for value and without notice of any adverse claim.\n(b) Subject to Subsections (c) through (h), law other than this chapter determines whether a person acquires rights in a virtual currency and the rights that the person acquires.\n(c) A purchaser of a virtual currency acquires all rights in the virtual currency that the transferor had or had power to transfer.\n(d) A purchaser of a limited interest in a virtual currency acquires rights only to the extent of the interest purchased.\n(e) In addition to acquiring the rights of a purchaser, a qualifying purchaser acquires the purchaser's rights in a virtual currency free of any adverse claim.\n(f) An action based on an adverse claim to a virtual currency, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a qualifying purchaser that acquires the purchaser's interest in, and obtains control of, the virtual currency for value and without notice of the adverse claim.\n(g) A person has notice of an adverse claim if:\n(1) the person knows of the adverse claim; or\n(2) the person is aware of facts sufficient to indicate that there is a significant probability that the adverse claim exists and deliberately avoids information that would establish the existence of the adverse claim.\n(h) Filing of a financing statement under Chapter 9 is not notice of an adverse claim to a virtual currency.\nAdded by Acts 2021, 87th Leg., R.S., Ch. 739 (H.B. 4474), Sec. 9, eff. September 1, 2021.","path":["BUSINESS AND COMMERCE CODE","TITLE 1. UNIFORM COMMERCIAL CODE","CHAPTER 12. VIRTUAL CURRENCY"],"source_url":"https://statutes.capitol.texas.gov/Docs/BC/htm/BC.12.htm#12.003","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:56Z","sha256":"fd8b9cf1f650b15b28205a71ab9d9f6a41bab1bc4647564546cf51cdbd31f873","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-commerce-code-12.002","next":"us-tx/tex.-business-commerce-code-12.004"},"notice":"GroundRules: Original legal text. Not legal advice."}