Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Digital Asset Regulation topic
No spam. Unsubscribe anytime.
Panel supports technical cleanup to digital‑asset licensing and reporting rules
Summary
House Bill 42,33 would modernize the regulatory framework for digital asset service providers, remove duplicative auditor access requirements, and realign licensing sections in the finance code; the sponsor said changes came from consultations with the banking commissioner and industry stakeholders.
Senator Parker presented House Bill 42,33 to the committee as a technical cleanup and modernization of Texas’ framework for digital asset service providers. The measure realigns licensing references under the Finance Code, removes an auditor‑access requirement for anonymous customer data, and repeals dated or duplicative reporting provisions cited by the banking commissioner.
Parker said the bill “eliminates that auditor access requirement and instead ensures that digital asset customers receive quarterly reports showing their assets and any liabilities owed to them,” and that the Texas banking commissioner requested some of the clarifying changes.
The sponsor told the committee the legislation is intended to increase clarity, reduce redundant obligations, and align supervision with the appropriate licensing chapters so providers can operate with consistent, actionable standards. The Department of Banking appeared as a resource witness; no adverse testimony was recorded in the hearing and the committee left the bill pending.
Actions
Public testimony taken; bill left pending.
Why it matters
Clarifying statutory references and reporting obligations could reduce compliance confusion for licensed digital‑asset custodians and help preserve consumer protections through clearer, enforceable reporting requirements.
