Reserves “in an amount sufficient to fulfil all obligations to customers” may soon be required by exchanges in Texas under the proposed legislation. The state Senate approved the measure on May 15. And it now only needs the governor, Greg Abbott’s signature to become law. Earlier this year, the Texas
On May 12, Texas announced that they were introducing a bill to ban the Central Bank Digital Currency (CBDC) in their state by the 88th legislature. According to the draftees, CBDC is a bad idea. A Central Bank Digital Currency is the digital form of a country’s fiat currency. CBDC
On Thursday, the Texas House Representatives passed a bill requiring crypto exchanges to provide proof of reserves. A Republican state representative, Giovanni Capliglione, filed HB 1666. The bill is expected to rebuild trust in the crypto market. And also, the bill would bring some major regulations to the crypto market.
Texas, the leading Bitcoin mining capital of the world, is just a phase away from passing the most significant anti-Bitcoin mining bill. On Tuesday, the State Committee in Austin approved the bill with zero opposition votes, moving it to the “uncontested” list. Currently, it is in the queue in the
While the International Monetary Fund (IMF) ‘warned El Salvador’ against boosting the government’s involvement with Bitcoin (BTC), the Central American country plans to open a second “Bitcoin Embassy” in Texas after establishing its first one in Lugano, Switzerland. According to a Twitter post from Milena Mayorga, El Salvador’s Ambassador to
Bitcoin hashrate which fell on Dec 25th nearly reaching a 39% low in the week started to surge. As per the CoinWarz data, the bitcoin hashrate was 168.85 EH/s on Dec 25th. And two days prior (Dec 23rd) it was 271.4 EH/s. The reason for the fall was stated to
The Texas State Securities Board began investigating FTX’s operations last month to see whether the exchange’s yield-bearing crypto accounts were providing people with unregistered securities. Since the company’s demise on November 11, the board has dramatically broadened its investigation into the consequences of this multibillion-dollar bankruptcy. Promotions of FTX by celebrities
RPT wants to establish a new clause in the Bill of Rights. The clause would permit people to possess any form of money including digital currency. The Republican Party of Texas (RPT) is planning to add a new amendment to the Bill of Rights, that would grant people in Texas
The Texas severance tax is a flat 7.5% of the market value of natural gas. Opponents argue that it encourages oil companies to continue drilling. Taxes on the sale of flared gas used to mine Bitcoins would be eliminated under new legislation proposed by the Texas cryptocurrency sector to lower
Virtual currencies are specifically addressed under the Texas UCC amendment bill. HB 4474 has a significant flaw that Long uncovered. House Bill 4474 was introduced on March 12, 2021, by Texas Representative Tan Parker to better adapt commercial law to blockchain innovation and the regulation of digital assets. Virtual currencies
