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Texas Finance Code - FIN § 160.003. Applicability

Current as of January 01, 2024 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 160.003. Applicability - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-160-003/

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