Loading chat...
TX HB3110
Bill
Status
2/20/2025
Primary Sponsor
Mary Perez
Click for details
AI Summary
-
Expands the definition of "contraband" subject to civil asset forfeiture to explicitly include digital currencies, non-fungible tokens (NFTs), and stablecoins
-
Defines "digital currency" as a digital representation of value recorded on a cryptographically secured distributed ledger, including blockchain technology
-
Includes any increase in value of forfeited digital currency between the date of acquisition and forfeiture as part of the "proceeds" subject to seizure
-
Requires law enforcement agencies to transfer seized digital currencies within 72 hours to an offline wallet ("cold storage") accessible only by the law enforcement agency or attorney representing the state
-
Establishes venue for forfeiture proceedings involving digital assets in the county where the seizing law enforcement agency is located, and applies only to property seized on or after September 1, 2025
Legislative Description
Relating to civil asset forfeiture of digital currency or other similar property.
Financial
Last Action
Left pending in committee
4/22/2025