Texas Lawmakers Vote To Cement Digital Currencies in Lone State’s Bill of Rights

Texas lawmakers voted nearly unanimously to exchange the country’s bill of rights to consist of the right of its citizens to personal, maintain and use virtual currency.

The joint decision changed into passed via a 139-2 vote on Wednesday.

“The right of the people to own, maintain, and use a at the same time agreed upon medium of exchange, which includes cash, coin, bullion, digital foreign money, or privately issued scrip, when trading and contracting for goods and offerings shall now not be infringed,” the bill reads. “No authorities shall prohibit or encumber the possession or keeping of any form or amount of cash or different foreign money.”

There can be one greater vote in the House, and then it is going to be on to the Senate and ultimately up to Texans to vote, tweeted Tom Glass, who ran for state consultant as a Republican and is attached to Texas Constitutional Enforcement. The amendment will then be as much as voters on the November 7 election.

The bill, HJR 146, changed into authored through Republican State Rep. Giovanni Capriglione in March.

The lone country’s crypto fanatics
Texas Republican US Sen. Ted Cruz has been supportive of crypto through the advent of a couple of bills over the last yr. In January, Cruz added the Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions Resolution, which might require the federal government to encourage shops in the US Capitol to simply accept crypto as a form of fee.

That bill was introduced in the Senate on January 25, however has no longer moved on account that.

Crypto is producing new jobs, growing hedges towards inflation and is being increasingly used as a form of fee, Cruz said in January. Cruz has additionally cautioned banning the United States Federal Reserve from issuing a relevant financial institution virtual currency, in line with different Republican lawmakers’ grievance of a US-sponsored CBDC.

Cruz delivered a partner invoice in March 2022 that could ban the Fed from developing a direct-to-consumer CBDC.

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