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.
Texas Adds Crypto Rights To State's Constitution 3

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.”

Texas Adds Crypto Rights To State's Constitution 4

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

Terra Shuttle Bridge Has Now Been Disabled

Terra Shuttle Bridge has now been closed, and all remaining LUNC and USTC tokens have…

1 hour ago

FLOKI Announces Dubai Takeover with WAFI Mall Campaign

Miami, Florida, 5th November 2024, Chainwire

2 hours ago

BlockDAG X1 App Receives Huge Response From Community, Hiting Over 200K Users! Latest on Bitcoin & Chainlink Prices

Want to learn about Bitcoin and Chainlink's prices? See why BlockDAG with its X1 app…

2 hours ago

Bitcoin Mining Difficulty Tops 100T Hash for the First Time

New ATH for Bitcoin’s average hashrate, combined with Bitcoin mining difficulty surpassing 100 trillion hashes,…

3 hours ago

US Presidential Election Drives Bitcoin Price Back to $70,000

Bitcoin's price rose 3% to $70,200, influenced by excitement surrounding the US presidential election.

4 hours ago

Xinteria Surpasses $1 Billion in Trading Volume, Unveils Innovative Market-Making Technology

NY, United States of America, 5th November 2024, Chainwire

4 hours ago

This website uses cookies.