Block Insider
  • News
  • Market Analysis
  • InsightsSoon
  • EnglishEnglish
    • PortuguêsPortuguês
  • Login
No Result
View All Result
Saturday, June 25, 2022
ADVERTISE
SUBSCRIBE
  • News
  • Market Analysis
  • InsightsSoon
No Result
View All Result
Block Insider
No Result
View All Result
Home News

Texas Law Recognizes Cryptocurrencies, Opens Doors to Commercial Use

Nicholas Say by Nicholas Say
September 3, 2021
Reading Time:2 mins read
Texas Law Recognizes Cryptocurrencies, Opens Doors to Commercial Use
TelegramTwitterRedditWhatsapp

Texas, the second-largest state in the US, passed the Texas House Bills 4474 and 1576 by both chambers in the state legislature in May.

RELATED POSTS

Crypto Market Surges Following Joe Biden’s Signing of Executive Order on Cryptocurrency

Cryptocurrency Market Bounces Back to Green Following Russian Invasion in Ukraine

Colorado Decides to Accept Cryptocurrency for Tax and Government Payments

After being signed into law by Governor Greg Abbott in June, both bills officially took effect on Sept. 1 in the strategy to accelerate the adoption of cryptocurrencies and blockchain in the state.

Become The 4th US State to Recognize Cryptocurrencies and Blockchain

While H.B. 1576 launches a blockchain group working in Texas, H.B. 4474, which better defines the security interests for Bitcoin (BTC) and other cryptocurrencies, amends the state’s Uniform Commercial Code to recognize cryptocurrencies under commercial law.

Caitlin Long, a Wyoming-based crypto proponent said,

“This is positive for crypto generally because Texas became the 4th U.S. state, behind Wyoming, Rhode Island, and Nebraska, to clarify the commercial law status of these assets. This means parties to transactions have clarity regarding their legal rights and obligations, judges have a roadmap to adjudicate disputes, and lenders know they have an enforceable lien on the crypto pledged as collateral for collateralized loans.”

In March, Lee Bratcher, president of the Texas Blockchain Council, said that the state was adopting commercial law on digital asset regulations and blockchain innovation to bring the state more in line with Wyoming, which effected a Digital Asset Law in July 2019.

Advertise
ADVERTISEMENT

Texas Welcomes Bitcoin Miners After China’s Crackdown on Crypto Mining

Texas is attracting Bitcoin miners that have recently moved to the region. When China is cracking down on many crypto mining operations, a number of Bitcoin mining companies have set up shops in Texas to conduct business.

Texas is considered the very good location for Bitcoin mining thanks its deregulated power grid, increasing renewable energy, and political leaders that are publicly pro-crypto. Most of these are rural communities seeking economic growth in the state.

ShareTweetShareSend
Nicholas Say

Nicholas Say

Nicholas Say is a writer, visual artist, and lover of thought. He has written extensively on cryptocurrencies (Blockonomi, Coinjournal), and sees them as a way for people to come together globally.

Related Posts

Crypto Market Surges Following Joe Biden’s Signing of Executive Order on Cryptocurrency
News

Crypto Market Surges Following Joe Biden’s Signing of Executive Order on Cryptocurrency

March 10, 2022
Cryptocurrency Market Bounces Back to Green Following Russian Invasion in Ukraine
News

Cryptocurrency Market Bounces Back to Green Following Russian Invasion in Ukraine

March 2, 2022
ByTask Force Pushes Biden Administration to Tighten Cryptocurrency Regulation
News

Colorado Decides to Accept Cryptocurrency for Tax and Government Payments

February 24, 2022
News

Buffett’s Company Invests in Crypto-Focused Bank while MasterCard will Offer Crypto & NFT Services

February 18, 2022
News

New Crypto Coalition Stepped in Amidst a Dramatic Tuesday Comeback of Crypto Pricings

February 11, 2022
Facebook Decides to Retreat from Its Banishment on Cryptocurrency Advertisements
News

Facebook’s Dream of Its Global Cryptocurrency Comes to an Official End

February 3, 2022
Next Post
Ethereum Classic and Dash, Price Analysis – 03 September

Ethereum Classic and Dash, Price Analysis – 03 September

Cardano and Wrapped Bitcoin, Price Analysis – 03 September

Cardano and Wrapped Bitcoin, Price Analysis – 03 September

Leave a Reply Cancel reply

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

Recommended Stories

Multi-Million Dollar Hacks Took Place against New NFT Milestone Amidst the Weekend Hit

Multi-Million Dollar Hacks Took Place against New NFT Milestone Amidst the Weekend Hit

December 10, 2021
Bitcoin, XRP, Cardano, Chainlink Analysis – 22 June

Bitcoin, XRP, Cardano, Chainlink Analysis – 22 June

June 26, 2021
Monero, Bitcoin SV , Price Analysis – 30 July

Monero, Bitcoin SV , Price Analysis – 30 July

July 30, 2021

Popular Stories

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
Block Insider

A financial portal covering Blockchain News, Crypto Insights and Market Analysis.

Recent Posts

  • Crypto Market Surges Following Joe Biden’s Signing of Executive Order on Cryptocurrency
  • Cryptocurrency Market Bounces Back to Green Following Russian Invasion in Ukraine
  • Colorado Decides to Accept Cryptocurrency for Tax and Government Payments

Categories

  • Market Analysis
  • News
  • Press Release

© 2022 Block Insider

No Result
View All Result
  • News
  • Market Analysis
  • EnglishEnglish
  • PortuguêsPortuguês

© 2022 Block Insider

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?