Texas has enacted SB1498 legislation empowering authorities to seize Bitcoin and other digital assets during criminal investigations. The law formalizes asset seizure procedures for cryptocurrencies while creating a state-managed forfeiture fund.
Signed on June 24, SB1498 establishes clear legal protocols for handling digital asset confiscations, addressing jurisdictional challenges in cryptocurrency-related cases. The new forfeiture fund will centralize management and storage of seized digital assets under state supervision.
This legislative framework aims to streamline law enforcement operations involving cryptocurrency seizures and ensure structured processing of confiscated digital property. The move marks Texas’ latest regulatory development in digital asset oversight.