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tradingking5

08/15 13:34

Texas passes SB1498 allowing seizure of digital as



Texas has passed a law granting law enforcement the authority to seize digital assets, with the measure set to take effect on Sept. 1.
On June 20, Texas lawmakers passed Senate Bill 1498, a bipartisan law that gives law enforcement the power to seize digital assets like Bitcoin (BTC), NFTs, stablecoins, and other cryptocurrency tied to criminal activity. The bill received full approval and is set to take effect on Sept. 1.
Under the new law, digital assets can be seized if they were used in or gained from crimes such as drug trafficking, fraud, theft, organized crime, or human trafficking. Any increase in the value of the seized assets between the time it was obtained and the time it is seized can also be claimed by the state.
Law enforcement would be required to move any seized assets tied to these crimes into a secure, offline ..
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