HB 2798 Texas House · 89th Legislature (2025)

Relating to disclosures and other requirements concerning virtual currency kiosk transactions; authorizing a fee.

HB 2798 requires virtual currency kiosk operators in Texas to provide clear, plain-language disclosures about key risks before any transaction. These disclosures must cover five specific risks: virtual currency isn't government-backed or insured, transactions may not be recorded immediately on public ledgers, value depends on market demand (risking total loss), and customers aren't obligated to accept virtual currency as payment. The bill also authorizes a fee for these kiosk operations, though the exact amount isn't specified in the provided text. This law directly affects businesses operating physical kiosks that exchange virtual currency for cash or other assets.

Bill status passed 3 of 5 stages cleared

Introduction

Mar 2025

Committee Review

Apr 2025

House Passage

Apr 2025

Senate Passage

Governor

Introduced Mar 19, 2025 Last action Apr 29, 2025

Maddy AI version diff · 1 comparison

What changed between versions

Introduced → Engrossed · 6 edits · Apr 25, 2025

MODERATE

The bill was updated from an introduced draft to an engrossed version with significant formatting corrections and the addition of new substantive sections. The primary changes include adding a sunset provision for compliance until September 1, 2026, and expanding transaction-related disclosure requirements to include specific details like transaction amounts, fees, and exchange rates. The bill also clarifies that new customers have a daily transaction limit of $2,000 and establishes a formal complaint process for fraudulently induced transactions.

Scope change

The bill's applicability remains the same (virtual currency kiosks in Texas), but a new compliance timeline was added requiring operators to wait until September 1, 2026, to comply with the new chapter.

TIMELINE

Added a sunset provision requiring virtual currency kiosk operators to wait until September 1, 2026, before complying with the new chapter.

REQUIREMENT

Expanded transaction-related disclosure requirements to include specific details such as transaction amounts, fees, exchange rates, and warnings about irreversibility.

Established a daily transaction limit of $2,000 for new customers using virtual currency kiosks.

Added a requirement for operators to provide refunds for fees charged if a transaction is determined to be fraudulently induced.

ENFORCEMENT

Created a formal complaint process allowing customers to file complaints with operators or law enforcement within 14 days if they believe a transaction was fraudulently induced.

DEFINITION

Corrected formatting and spacing in definitions to improve readability and consistency with legislative standards.

Floor votes · House Apr 24, 2025

How they voted

104–38

Passed · 4 other

Total votes 146

Apr 24, 2025

D Democratic59

56 Yea 1 Nay 2

94% Yea

R Republican87

48 Yea 37 Nay 2

55% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Apr 29, 2025

Committee

Referred to Business & Commerce

upper

Apr 29, 2025

Introduced

Read first time

upper

Apr 28, 2025

Introduced

Received from the House

upper

Apr 25, 2025

Lower · Passed

Passed

lower

Apr 24, 2025

Lower · Passed

Passed to engrossment as amended

lower

Apr 24, 2025

Lower · Passed

Amendment adopted as amended

lower

Apr 24, 2025

Amended

Amendment amended

lower

Apr 24, 2025

Introduced

Amendment(s) offered

lower

Apr 24, 2025

House · Passed

House Vote: pass (104-38-4)

house

Apr 4, 2025

Lower · Passed

Committee report sent to Calendars

lower

Apr 4, 2025

Lower · Passed

Committee report distributed

lower

Mar 31, 2025

Lower · Passed

Reported favorably w/o amendment(s)

lower

Mar 24, 2025

Lower · Passed

Left pending in committee

lower

Mar 24, 2025

Lower · Passed

Testimony taken/registration(s) recorded in committee

lower

Mar 19, 2025

Committee

Referred to Pensions, Investments & Financial Services

lower

Mar 19, 2025

Introduced

Read first time

lower

4 primary · 1 co-sponsor