The Texas Department of Banking stated in July 2026 that non-depository issuers of fiat-backed stablecoins are currently licensed and regulated as money transmitters under Chapter 152 of the Texas Finance Code. Texas also said it intends to continue regulating them consistently with the federal GENIUS Act framework.
What changed
Texas publicly clarified that fiat-backed stablecoin issuers fall within current state money transmitter licensing treatment for non-depository issuers.
Compliance perspective
Companies issuing or supporting fiat-backed stablecoins in Texas should evaluate whether their current licensing position, product disclosures, and control framework align with money transmitter treatment. This is especially important for firms that previously relied on more limited state guidance or analogies to other digital-asset activities.
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