Return of the UFADAA: How Texas and Other States’ Adoption of the RUFADAA Can Change the Internet

Addresses benefits and issues arising from the adoption of state legislated digital asset law. First, a discussion on the chronological history of digital rights from terms of service (TOS) agreements to the current proposed RUFADAA. This section will be presented in order to lay a foundation for the defining, importance, and rapid development of the rights to digital assets. The next section provides an in-depth comparison using the digital media from the hypothetical to show the differences between the UFADAA, the PEAC, and the RUFADAA and their individual effects on digital assets. Then, this comment addresses the current draft version of the Texas Digital Asset Act. Afterwards, using the hypothetical situation, the current draft of the Texas Digital Asset Act will be evaluated. Finally, this comment addresses the needs of adapting the RUFADAA for a federal law. This comment briefly addresses some of the federal pre-emptive issues possibly involved with the enactment of the RUFADAA. This comment’s overall purpose is to evaluate Texas’s need for a fiduciary digital asset statute and provide direction in planning for digital assets.