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Jafrin Ahmed
Jul 23, 2022
by Jafrin Ahmed

Texas Working on a New Bill that Recognizes Citizens' Right to Use Bitcoin

Texas Bill

Table of contents

  1. Crypto Rights for Texas Citizens
Texas Republicans are looking to introduce a new clause into the state's Bill of Rights that would allow citizens to own, hold and use whatever form of money they use including cryptocurrencies.

Crypto Rights for Texas Citizens

According to the document, the Texas GOP will add protections for wealth transfer and storage to the Texas Bill of Rights that will let its citizens choose their medium of exchange, "including digital currency, gold and silver coin, bullion, cash, and a scrip."

"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," reads the platform.
"No government shall prohibit or encumber the ownership or holding of any form or amount of money or other currency. Explicit protections for the natural right of Texans to keep and exchange and store their wealth in the mediums of exchange of choice," it added.

Many Republican officials are eager to establish Texas as a cryptocurrency hub. The state has already been a preferred choice for crypto miners with its cheap electricity and land charges. For instance, ten industrial-scale crypto miners draw energy from the Texas power grid, according to CNBC. However, miners had to shut their operations due to the recent record heatwave in the state.

U.S. Sen. Ted Cruz (R-Texas) said at the Texas Blockchain Summit last October, "I would like to see Texas become the center of the universe for bitcoin and crypto."

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Texas Working on a New Bill that Recognizes Citizens' Right to Use Bitcoin
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

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