Texas Lawmaker Launches Resolution to Protect Bitcoin Investors, Support BTC Economy

Bitcoin

A legislative proposal has been introduced to support the bitcoin economy in the U.S. state of Texas. “The individuals who own bitcoin should be protected” under the Texas Constitution, the proposal describes. “No citizen of Texas shall ever be deprived of their right to own bitcoin and that all bitcoin owners will be protected as they enjoy all the privileges associated with the cryptocurrency.”

Resolution to Support Bitcoin Economy

A legislative proposal called House Concurrent Resolution 89 (HCR89), which expresses support for the bitcoin economy in Texas, was introduced in the state’s House of Representatives on Monday by Rep. Cody Harris. Concurrent resolutions require the approval of both the House and the Senate in the state but do not have the force of law.

The resolution reads:

The individuals who own bitcoin should be protected under Section 9, Article I, Texas Constitution, which states that ‘The people shall be secure in their persons, houses, papers and possessions, from all unreasonable seizures or searches’; this right should also extend to digital possessions, such as cryptocurrencies.

Moreover, the resolution not only aims to obtain backing from the state legislature to protect “individuals who code or develop on the Bitcoin network” but also welcomes bitcoin miners “to seek out any forms of energy to help secure the Bitcoin network in the state of Texas.”

The resolution adds: “Individuals who mine bitcoin in Texas will never be inhibited by any law or resolution that restricts the practice of securing the Bitcoin network for the safety of the virtual currency.”

Furthermore, the resolution states:

No citizen of Texas shall ever be deprived of their right to own bitcoin and that all bitcoin owners will be protected as they enjoy all the privileges associated with the cryptocurrency, including the immunity afforded by censorship-resistant spending of bitcoin and the ability to store bitcoin in an unhosted wallet without undue interference from any state agency.

Tags in this story
bitcoin owner rights, bitcoin rights, bitcoin Texas, Texas bitcoin, Texas Bitcoin Mining, Texas crypto, Texas cryptocurrencies, Texas cryptocurrency, Texas resolution, Texas resolution crypto, Texas resolution cryptocurrency

What do you think about this resolution to protect bitcoin owners and support the bitcoin economy in Texas? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.




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