Republican politicians in Texas demanded the inclusion of a provision in the state’s Bill of Rights. It allows citizens to freely own, hold and use any medium of exchange they choose, and buys cryptocurrencies from them.
Texas GOP proposes amendment to secure financial freedom
The state’s Republican platform is seeking to include a new provision in its bill of rights. If approved, it would remove all forms of payment restrictions. Also, it is necessary for Texans to carry out transactions in using any medium of exchange of their choiceand buy Bitcoin (BTC) and altcoins.
In addition, politicians have indicated that the main purpose of the amendment. It is ensure that the country is free from all sorts of restrictions and financial constraints. Among other things, the amendment also refers to a certain name of objectives:
- “Lords of the negotiation and contracting of goods and services, the rights of individuals to own, hold and use a mutually agreed medium of exchange (and buy cash, coins, bullion, digital currency or certificates) must not be breached. »
- “The government of None prohibits or interferes with the ownership or possession of money or other objects of that nature whatsoever. »
- “Exclusive protection of the natural right of Texans to hold, exchange and store their wealth in the medium of exchange of their choice. »
Bonus: Countless fintech startups sign up for Fidelity’s Bitcoin 401(k) offering.
Driving Cryptocurrency Adoption
With this new proposal, the republics are determined to maintain the status of Texas as a growing crypto hub. Additionally, the successful amendment of the state bill of rights has undoubtedly sparked more blockchain-related businesses. Texas is also the Bitcoin mining paradise in the United States.
Unlike some US states, crypto-friendly rules of Texas and cutting-edge politicians like Bitcoin Hodler, Senator Ted Cruz, Greg Abbott and celebrities in an ideal destination for industry players.
Senator Elizabeth Warren and her cohorts are now asking regulators toasks for more data on energy consumption of miners. This comes at a time when the United States and other jurisdictions are waging a war on proof-of-work (PoW) mining. Therefore, Texas State remains a safe haven for these companies.
Also to be discovered: The main Brazilian courtier XP will launch a crypto trading platform next August.