Texas Lawmaker Vows to Introduce Bitcoin

Publish: 10.03.2017

Digital currencies have become quite a hot topic over the past couple of months and the word Bitcoin has come all the way to Texas and some other areas in the United States which stand in front of a policy debate over their use.

Bitcoin Resolution

Texas is one of the states which hit the headlines over the past week as State Representative Matt Schaefer submitted a written proposal for the State to revise the constitution. and amend the Article I to protect the right to use any ‘mutually agreed upon medium of exchange’.

Schaefer argues that virtual currencies such as bitcoin should not be prohibited by any government as it comes under the fundamental rights of the citizens and his Texas House Joint Resolution 89 proposes that Article I is changed into the following:

Article I, Texas Constitution, is amended by adding…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. 

No government shall prohibit or encumber the ownership or holding of any form or amount of money or other currency.

Constitutional Changes

The proposed amendment will find its way in front of the voters later in November 2015 and as a home to digital currency companies such as Factom, Stash Incorporated, the Crypto Show and others, the state of Texas is hoping that 48 bitcoin automated tellers will play a part in State’s decision.

The State of Texas is known for its vociferous opposition to government interference is gun rights and State Representative Matt Schaefer wants to make sure that constitutional amendment would go on to protect currencies in a similar way by clearly stating that the use of digital currencies is a citizen’s fundamental right.