Texas proof-of-reserve invoice passes via the Senate

Laws that would require exchanges to take care of reserves “in an quantity ample to meet all obligations to clients” has made it one step nearer to changing into regulation in Texas. On Might 15, the invoice handed a vote within the state Senate and now awaits solely the governor’s signature.

Texas Home Invoice 1666, amending the Texan finance code, handed via the state’s Home of Representatives earlier this yr. After three readings within the Senate, the textual content of the invoice hasn’t skilled any important modifications from the earlier draft.

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