Texas § 403.701 DEFINITIONS.

Texas Statutes

§ 403.701 — DEFINITIONS.

Texas § 403.701

Code GVGovernment Code

This text of Texas § 403.701 (DEFINITIONS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 403.701 (2026).

Text

Sec. 403.701. DEFINITIONS. 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, s

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Sec. 403.701. DEFINITIONS. 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.