Tex.
Fin. Code Section 160.001
Definitions
(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 (Definition), 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.
Source:
Section 160.001 — Definitions, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.160.htm#160.001 (accessed Jun. 5, 2024).
