Tex. Gov't Code § 403.701 · Subchapter V. TEXAS STRATEGIC BITCOIN RESERVE
DEFINITIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
In this subchapter:
(1) "Airdrop" means a gratuitous distribution of cryptocurrency to persons who hold cryptocurrency, generally made in a broad, equitable, and nondiscretionary manner.
(2) "Bitcoin" means a type of decentralized cryptocurrency created by a peer-to-peer network that operates independently of any central authority or bank.
(3) "Cold storage" means a method of storing private keys required to engage in transactions involving cryptocurrency that:
(A) has a nexus to a secure physical location;
(B) is protected from unauthorized access; and
(C) is isolated from any Internet network connections.
(4) "Cryptocurrency" means a type of virtual currency that utilizes cryptography to secure transactions that are digitally recorded on a distributed ledger, such as a blockchain.
(5) "Fork" means a change to the consensus mechanism of a distributed ledger that creates a separate ledger, which may result in a new cryptocurrency that shares a common transaction history with the previous cryptocurrency up to the point of the change.
(6) "Qualified custodian" means a state or federally chartered financial institution or other entity regulated by this state that has custody of a virtual currency.
(7) "Reserve" means the Texas Strategic Bitcoin Reserve established under this subchapter.
(8) "Virtual currency" has the meaning assigned by Section 12.001, Business & Commerce Code.
Notes and commentary — not statutory text
History
Added by Acts 2025, 89th Leg., R.S., Ch. 957 (S.B. 21), Sec. 2, eff. June 20, 2025.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.403.htm
- Text hash
- sha256 26934e2f9b85698f031eb71d92aabf417f728725068755e68177dde8caddcc7c
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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Business & Commerce Code
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.