TX HB3833

Streamlines disclosure requirements for individuals controlling money services licensees or applicants, requiring fingerprints for FBI background checks (unless residing outside the U.S. for 10+ years), credit reports, criminal history, and information on regulatory actions or civil litigation involving fraud or fiduciary breaches

Removes the requirement that currency exchange license applicants demonstrate compliance with Section 152.355, and replaces terminology from "principal" to "key individual" throughout the regulatory framework

Modifies acquisition of control exemptions so that only the entity being acquired (not both parties) must be a current licensee projected to meet financial requirements, while requiring the acquiring party to meet requirements only if it is also a licensee

Requires currency exchange licensees to maintain financial statements prepared under U.S. generally accepted accounting principles, and mandates security be maintained as a surety bond with commissioner-approved deposits as an alternative option

Expands permissible investments for money transmission licensees to include stablecoin (to the extent of outstanding transmission obligations in the same stablecoin type) and specifies that demand and savings deposits must be held in federally insured depository institutions

Takes effect September 1, 2025