Stablecoin Issuers May Need Licenses in Texas, Unlike Most Crypto Startups

2019-1-5 01:35

A new memo by the Texas Department of Banking notes that stablecoins may fall under the state's definition of "money" and therefore would be subject to money transmission laws.

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Texas Updates Regulatory Guidance Regarding Cryptocurrency Activities

The Texas Department of Banking has published new guidance regarding the regulatory treatment of virtual currencies under the Texas Money Services Act. The document states that most transactions involving cryptocurrencies will not be considered a transfer of “monetary value” but the exchange of virtual currencies for fiat will likely be recognized as a “money transmission.

2019-1-5 21:00