| 1 | 1 | | 89R15308 MLH-F |
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| 2 | 2 | | By: Capriglione H.B. No. 4233 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | |
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| 6 | 6 | | |
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| 7 | 7 | | A BILL TO BE ENTITLED |
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| 8 | 8 | | AN ACT |
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| 9 | 9 | | relating to reporting and auditing requirements for digital asset |
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| 10 | 10 | | service providers. |
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| 11 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 12 | 12 | | SECTION 1. Section 160.004(c), Finance Code, is amended to |
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| 13 | 13 | | read as follows: |
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| 14 | 14 | | (c) A digital asset service provider shall create a plan to |
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| 15 | 15 | | allow[: |
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| 16 | 16 | | [(1)] each digital asset customer to view at least |
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| 17 | 17 | | quarterly an accounting of: |
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| 18 | 18 | | (1) [(A)] any outstanding liabilities owed to the |
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| 19 | 19 | | digital asset customer; and |
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| 20 | 20 | | (2) [(B)] the digital asset customer's digital assets |
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| 21 | 21 | | held in custody by the digital asset service provider[; and |
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| 22 | 22 | | [(2) an auditor to access and view at any time a |
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| 23 | 23 | | pseudonymized version of the information made available to each |
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| 24 | 24 | | digital asset customer under Subdivision (1)]. |
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| 25 | 25 | | SECTION 2. Section 160.005(a), Finance Code, is amended to |
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| 26 | 26 | | read as follows: |
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| 27 | 27 | | (a) In addition to any other requirements under Subchapter C |
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| 28 | 28 | | [D], Chapter 152 [151], a digital asset service provider must |
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| 29 | 29 | | comply with the requirements of this chapter to obtain and maintain |
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| 30 | 30 | | any money transmission license under Subchapter C [D], Chapter 152 |
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| 31 | 31 | | [151]. [A digital asset service provider applying for a new money |
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| 32 | 32 | | transmission license under Subchapter D, Chapter 151, must submit |
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| 33 | 33 | | to the department the report required by Section 160.004(d).] |
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| 34 | 34 | | SECTION 3. Sections 160.004(d), (e), and (f), Finance Code, |
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| 35 | 35 | | are repealed. |
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| 36 | 36 | | SECTION 4. This Act takes effect September 1, 2025. |
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