Relating to the issuance and regulation of an oil-backed stablecoin; authorizing a fee; authorizing an administrative penalty.

SB 2922 creates a regulatory framework for oil-backed stablecoins in Texas, requiring issuers to fully back each stablecoin unit with physical oil or oil products held in a dedicated reserve. It establishes licensing requirements through the Texas Department of Banking, mandates 1:1 redemption for oil, and authorizes fees and administrative penalties for noncompliance. This directly affects companies seeking to issue such stablecoins (as licensees), consumers using them, and the Texas Department of Banking (as the regulator). The bill specifies that stablecoins must be redeemable for a defined oil quantity measured in standard units, with oversight to ensure transparency and consumer protection.