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A BILL TO BE ENTITLED
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AN ACT
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relating to prohibiting the operation of virtual currency kiosks; |
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creating a criminal offense. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subtitle E, Title 3, Finance Code, is amended by |
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adding Chapter 161 to read as follows: |
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CHAPTER 161. VIRTUAL CURRENCY KIOSKS |
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Sec. 161.001. DEFINITIONS. In this chapter: |
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(1) "Electronic terminal" has the meaning provided by |
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Section 31.002. |
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(2) "Virtual currency" has the meaning assigned by |
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Section 12.001, Business & Commerce Code. |
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(3) "Virtual currency kiosk" means an electronic |
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terminal that facilitates the exchange of virtual currency for |
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money, bank credit, or other virtual currency, including by: |
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(A) connecting directly to a separate virtual |
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currency exchange that performs the actual virtual currency |
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transmission; or |
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(B) drawing upon the virtual currency in the |
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possession of the electronic terminal's operator. |
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Sec. 161.002. OPERATION OF VIRTUAL CURRENCY KIOSK |
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PROHIBITED. (a) A person commits an offense if the person |
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knowingly: |
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(1) owns or operates a virtual currency kiosk located |
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in this state; or |
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(2) allows another person to operate or install a |
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virtual currency kiosk on property located in this state that is |
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owned, leased, or controlled by the person. |
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(b) An offense under this section is a Class A misdemeanor. |
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SECTION 2. This Act takes effect September 1, 2027. |