The State of Texas is taking major steps to promote, advance and provide the Bitcoin platform, which it considers to be a cutting-edge innovation. In line with this, the state released a report proposing a bill that would allow Bitcoin as an authorized investment in the state.
According to the latest details of the bill, the 88th Texas Legislative Session now supports “individuals who code or develop on the Bitcoin network pursuant to Title 1, Section 8 of the Texas Constitution.” The bill also talks about how BTC miners are free to seek any form of energy to secure the Bitcoin network.
Furthermore, the new law stipulates that no citizen will be deprived of the right to own Bitcoin and emphasizes their protection. It also highlighted the security of owning and handling bitcoin in the state.
The move by Texas shows its commitment to embracing and promoting cryptocurrencies, and it is one of the few U.S. states that has taken active steps to support Bitcoin and integrate it into its economy.
The bill’s authors believe that this new law will help make Texas a hub for cryptocurrency development and will attract more investors and entrepreneurs to the state.
The news was welcomed by the cryptocurrency community, with many applauding Texas for its progressive stance on digital assets. The move has also sparked interest from businesses in the cryptocurrency industry, who may now consider relocating to Texas due to the favorable regulatory environment.
Texas is positioning itself as a leader in the cryptocurrency industry, and this new law is an important step toward making that happen. With this legislation in place, Bitcoin holders, miners, and developers can freely operate in the state with the confidence that their rights are protected.