Sec. 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; 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.