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<p>The Texas House of Representatives approved a bill on April 20 that requires crypto exchanges to maintain sufficient reserves to fulfill all obligations to customers. If the bill passes the Senate and receives the Governor&#39;s signature, it could become law by September 1, 2023. The bill amends the <strong><a href="https://www.coingabbar.com/en/crypto-currency-news/crypto-mining-potential-benefit-texas-energy-industry-comptrollers-office-2" rel="noopener noreferrer nofollow">Texas</a></strong> Finance Code, specifically Section 160, and according to these amendments, digital asset providers serving more than 500 customers in the state and holding customer funds of at least $10 million will be prohibited from using customer funds for any other type of operational funds and any other transactions.</p>

Texas House Approves Crypto Exchange Reserve Bill

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