Sec. 160.001.  DEFINITIONS.  In this chapter:
(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, 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.
Added by Acts 2023, 88th Leg., R.S., Ch. 419 (H.B. 1666), Sec. 1, eff. September 1, 2023.