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

A bill has been introduced to support the bitcoin economy in the US state of Texas. “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 bill called House Concurrent Resolution 89 (HCR89), expressing support for the bitcoin economy in Texas, was introduced in the state’s House of Representatives on Monday by Representative Cody Harris. Concurrent resolutions require approval by both the House and Senate of the state, but do not have the force of law.

The resolution reads:

The persons 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 goods, from all unreasonable seizures or searches’; this right should also apply to digital assets, such as cryptocurrencies.

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

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

The resolution also states:

No citizen of Texas shall ever be deprived of the 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 provided by censorship-resistant use of bitcoin and the ability to store bitcoin in a non- coughed wallet without undue interference from any government agencies.

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 of finance and cryptography.