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are repealed.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