SB 1498 - Expands Civil Asset Forfeiture

SB 1498 expands Texas’ civil asset forfeiture laws to include digital currencies, NFTs, and stablecoins, giving law enforcement greater authority to seize these assets during criminal investigations. While aimed at combating crime, the bill widens the scope of civil asset forfeiture. In civil asset forfeiture, the government can seize your property without convicting you of a crime, and incentives policing for profit. This bill increases government overreach, undermines property rights, and creates perverse financial incentives for law enforcement agencies to prioritize asset seizures over due process. For these reasons, TFR opposes SB 1498.