Texas includes Cryptocurrencies in its Bill of Rights

In Texas, the bill of rights, or Bill of Rights, has been extended to cryptos. Texans lawmakers did indeed vote in favor of a new “pro-crypto” amendment. This modification thus allows individuals to use cryptos as a medium of exchange. The group Texas Constitutional Enforcement supports this decision.

Adoption of a new amendment Pro-Crypto »

Texas lawmakers have voted to amend its Bill of Rights to include cryptocurrencies. The bill is a crypto recognition as a legitimate medium of exchange. This prevents the government from restricting, or confiscating, the cryptocurrency holdings of citizens of the state.

There new layout indicates that one cannot infringe ” the right of the people to own, hold and use a mutually agreed medium of exchange, including cash, coins, bullion, cryptocurrencies and contracts for goods and services “.

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

Protection of the right to financial confidentiality

Representative Giovanni created the bill to extend the Bill of Rights to crypto assets. The day before yesterday, Tom Glass was saying that the House still has to vote for the bill before sending it to the Texas Senate. This is the person at the head of the group Texas Constitutional Enforcement, which opposes acts perceived as unconstitutional. Today, lawmakers voted for this new amendment in favor of cryptos.

For the group, forcing people to use financial institutions instead of the currency of their choice risks creating a police state. Indeed, such a requirement allows governments to see all financial transactions made by the population. This violates any right to financial confidentiality. Plus, it makes it easy for governments to confiscate the wealth of Texans through Cypriot-style bailouts or CBDC expirations.

These are the reasons why the State of Texas adopted this new amendment in favor of cryptos.