News

Texas Adds Crypto Rights To State’s Constitution

The Texas GOP platform advocates for a section in the state’s Bill of Rights enabling residents to own possess and utilize whatever means of exchange they like, including digital money.

According to the clause, Texans would be free to use cash, coin, bullion, digital currency, or scrip when performing a transaction. Texas Republicans would like to see added to the state’s Bill of Rights at the beginning of the clause:

“The right of the people to own, hold and use a mutually agreed upon medium of exchange, including cash, coin, bullion, digital currency or scrip, when trading and contracting for goods and services shall not be infringed.”

The Lone Star State is already a critical crypto mining hub, and Republican officials appear ready to try to build on that momentum.

“No government shall prohibit or encumber the ownership or holding of any form or amount of money or other currency. Explicit protections [are needed] for the natural right of Texans to keep and exchange and store their wealth in the mediums of exchange of [their] choice.”

Many Republican state officials are anxious to ensure that Texas maintains its role as a cryptocurrency powerhouse, despite other politicians’ concerns that the business could overload an already stressed electricity system.

“I would like to see Texas become the center of the universe for bitcoin and crypto,” U.S. Sen. Ted Cruz (R-Texas) told 700 attendees at the Texas Blockchain Summit last October in Austin.

On a national level, the U.S. Senate Republican’s April policy arm issued a paper on crypto, signaling the GOP is gaining a more unified stance on digital asset regulation.

Texas has also introduced regulations that further the state’s adoption of blockchain and cryptocurrency. Recently, the State started examining ways of crypto payments adoption. The State regulators are also investigating Celsius Network’s decision to halt its operations.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Bybit Proof Of Reserve Shows Changes In BTC, ETH, And USDT

Bybit Proof of Reserve reveals BTC holdings at 50,412 (-8.55%), ETH at 525,641 (+8.11%), and…

3 minutes ago

Bitcoin Spot ETF Inflows Reach $449M With BlackRock Leading

Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…

52 minutes ago

Best New Meme Coins to Join for 2025: BTFD Coin Leads, Popcat Keeps It Purr-fect, and Non-Playable Coin Hits Gamers Hard

Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…

2 hours ago

Solana memecoins crash while DTX Exchange hits 100,000 TPS on layer-1 blockchain

Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…

3 hours ago

Strategic Bitcoin Reserve Expected to Cut 35% of US National Debt by 2049

VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…

3 hours ago

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

3 hours ago

This website uses cookies.