© Igor Faun Texas Lawmaker Fights To Secure Bitcoin’s Liberty In Lone Star State
Benzinga – Cody Harris, a Republican member of the Texas State House, has introduced a resolution expressing support for the Bitcoin (CRYPTO: BTC) economy in the state.
In his resolution, Harris urged lawmakers to protect individuals who code or develop on the Bitcoin network, as well as BTC holders and Bitcoin miners operating in Texas.
He also argued that Texans’ constitutional rights should extend to digital assets, preventing any attempts to seize or search residents’ crypto holdings.
Harris emphasized the importance of Bitcoin mining in Texas, stating in his resolution that “individuals who mine Bitcoin in Texas will never be inhibited by any law or resolution.”
He also assured those who use Bitcoin to store their wealth or make peer-to-peer transactions with other law-abiding Texas citizens that they will “always feel free and safe in their ownership and use of Bitcoin.”
Also Read: How Much Does It Cost To Visit Twitter HQ? Elon Musk’s Answer Causes Dogecoin Value To Spike
Although House Concurrent Resolution 89 would not have a direct impact on Texas’ current laws and regulations, it sends a strong message of support for the cryptocurrency industry in the state.
Harris referenced the Chinese government’s crackdown on cryptocurrency miners as a reason for many firms relocating to Texas, including Riot Platforms (NASDAQ: RIOT), Core Scientific (NASDAQ: CORZ), and White Rock Management.
While Texas has recognized cryptocurrencies under its commercial laws, some lawmakers at the federal level have criticized the state’s seemingly relaxed regulatory regime.
However, Texas Governor Greg Abbott has previously shown support for the cryptocurrency industry and referred to himself as a “crypto law proposal supporter.”
Meanwhile, Florida Governor Ron DeSantis has announced plans to ban central bank digital currencies, both foreign and domestic.
It is reported that Texas may also consider a similar initiative.
Read Next: Senator Elizabeth Warren Sounds Alarm Over ‘Shady Audits’ Threatening Financial System
Photo: Unsplash
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
