Texas § GV.403.701 - DEFINITIONS
Full text of Texas The Texas Constitution § GV.403.701 — DEFINITIONS, with citation guidance and answers to common questions.
§ GV.403.701. DEFINITIONS
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. Added by Acts 2025, 89th Leg., R.S., Ch. 957 (S.B. 21 ), Sec. 2, eff. June 20, 2025.
Frequently Asked Questions About Texas § GV.403.701
What does The Texas Constitution § GV.403.701 cover?
Section GV.403.701 ("DEFINITIONS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.403.701?
A common citation format is "The Texas Constitution § GV.403.701" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.403.701 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.