Texas Enacts SB1498 Law Permitting Seizure of Bitcoin and Digital Assets Linked to Crimes

On June 24th, Texas enacted SB1498, a legislative measure empowering state authorities to confiscate Bitcoin and other digital assets linked to criminal activities. This law formalizes the process of asset seizure, ensuring that cryptocurrencies involved in illicit conduct are redirected into a designated forfeiture fund. The move reflects Texas’ commitment to enhancing regulatory oversight within the rapidly evolving digital asset landscape. By integrating crypto asset forfeiture into its legal framework, the state aims to strengthen enforcement mechanisms against financial crimes while maintaining transparency and accountability in asset management.