89R10844 SCR-F     By: Parker S.B. No. 1941       A BILL TO BE ENTITLED   AN ACT   relating to certain reports required to be filed by digital asset   service providers.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 160.004(d), Finance Code, is amended to   read as follows:          (d)  Not later than the 90th day after the end of each fiscal   year, a digital asset service provider shall file a report with the   department. The report must include the following information, as   of the end of the digital asset service provider's fiscal year:                (1)  an attestation by the digital asset service   provider of outstanding liabilities [liability] to digital asset   customers;                (2)  evidence of customer assets held by the provider;   and                (3)  [a copy of the provider's plan under Subsection   (c); and                [(4)] an attestation report that is:                      (A)  an examination report prepared by an   independent certified public accounting firm on each of the   provider's assertions that the digital assets in the provider's   custody are sufficient to meet outstanding customer liabilities, in   like kind, and presented in accordance with Subdivisions (1) and   (2); or                      (B)  an agreed-upon procedures attestation report   that contains an acknowledgement by the provider's management that   the procedures are appropriate to fulfill the intended purpose of   demonstrating that digital assets in custody are sufficient to meet   outstanding customer liabilities, in like kind, and presented in   accordance with Subdivisions (1) and (2) [by an auditor that the   information in the report is true and accurate].          SECTION 2.  This Act takes effect September 1, 2025.