Tex. Fin. Code Section 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 (Definitions); 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.

Source: Section 160.003 — Applicability, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­160.­htm#160.­003 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 160.003’s source at texas​.gov