SB 1797
Digital assets & cons prot act
Digital Assets & Cons Prot Act
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- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
Creates the Digital Assets and Consumer Protection Act. Provides that the Department of Financial and Professional Regulation shall regulate digital asset business activity in the State. Sets forth provisions concerning: applicability; the powers and duties of the Department; funds; customer protections; custody and protection of customer assets; covered exchanges; compliance; registration; supervision; records; additional procedural provisions; confidentiality; violations; enforcement; rulemaking authority; and severability. Creates the Special Purpose Trust Company Article in the Corporate Fiduciary Act. Sets forth provisions concerning certificates of authority; rulemaking and organization; certificates of authority for foreign corporate fiduciaries; eligibility; fees; and certificates of reciprocity. Makes other changes to various Acts. Effective immediately.
Sponsors
Official sponsors from legislative records.
Primary sponsors
Jr. Edgar González
Mark L. Walker
Cosponsors
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