NEW!Incredible offer for our exclusive subscribers! Read More
AltcoinsBTCCryptoETHMiningOtherStock

Texas House Passes Bill That Officially Recognizes Legal Status of Cryptocurrencies

1 Mins read

The “Virtual Currency Bill” that recognizes the legal status of cryptocurrencies has just been passed by the Texas House of Representatives.

Source: u.today

It will now have to clear the Senate hurdle before becoming law and potentially establishing the “Lone Star State” as a major crypto hub together with Wyoming.

The bill aims to include the term “virtual currency” in the Uniform Commercial Code, which governs commercial transactions in the state:

A “Virtual currency” means a digital representation of value that functions as a medium of exchange, unit of account, and/or store of value and is often secured using blockchain technology.

If turned into law, it would provide a legal framework for obtaining control over cryptocurrencies. The bill allows the purchaser to share “the power with another person,” thus making it possible for financial institutions to engage in crypto custody.

Texas Governor Greg Abbott personally came out in support of the landmark crypto bill.

Related posts
AltcoinsBTCCryptoETHMiningOther

Coins-bit.net protects your money

1 Mins read
Coins-bit.net, it is at the forefront of the cryptocurrency industry By Coins-bit.net analyst For instance, Coins-bit.net it is at the forefront of the cryptocurrency industry…
CryptoMarketsNews

Cointolab deposit x2

1 Mins read
Cointolab deposit x2 for new users. The stock exchange has launched a promotion of 200% deposit on the first deposit for new…
CryptoMarketsNews

Cointolab deposit x2

1 Mins read
Cointolab deposit x2 for new users. The stock exchange has launched a promotion of 200% deposit on the first deposit for new…
Power your team with InHype

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *