S.B. No. 1498 amends the Texas Code of Criminal Procedure to include provisions for the civil asset forfeiture of digital currencies and similar properties. The bill defines "contraband" to explicitly include digital currencies, non-fungible tokens, and stablecoins, and introduces a new definition for "digital currency" as a digital representation of value recorded on a secured distributed ledger. Additionally, the bill modifies the definition of "proceeds" to encompass increases in the value of digital currency gained from criminal activities. It also expands the definition of "depository account" to include digital currency wallets.

The bill outlines specific procedures for the seizure and forfeiture of digital assets, including requirements for law enforcement to transfer seized digital currencies to secure wallets that are not connected to exchanges or networks. It establishes that forfeiture proceedings can be initiated in the county where the law enforcement agency that seized the property is located, particularly for digital assets. The changes in law will apply only to property or proceeds seized on or after the effective date of the Act, which is set for September 1, 2025.