Texas wants to be the center of Bitcoin innovation, says Governor Abbott
Governor of Texas Greg Abbott sees value in what Bitcoin means to the entire world, adding that his state “wants to be at the center of that.”
Texas is Bitcoin country
In a speech to the Texas Blockchain Council, Abbott encouraged Bitcoin entities to set up shop in Texas, saying that those who do will be rewarded with “ease of business” and no regulatory friction.
“We’re promoting it, we’re promoting it. But I would say we’re providing the platform for those involved in blockchain, for those involved in Bitcoin, to make sure they’re going to have a place they can come to.”
Abbott said Texas will continue to advance its pro-Bitcoin/blockchain agenda to help the development of digital asset innovation in the state.
When asked about differences between Texas and other pro-Bitcoin states, Abbott said Texas created a task force to focus on improving existing laws to make the state “more welcoming” to ensure Bitcoin’s success.
“Understand this, when Texas engages in legislation, we don’t want to be over-regulatory, we’re kind of anti-regulatory. But we want to provide an infrastructure to ensure that blockchain and Bitcoin will be able to succeed.”
According to a recent SmartAsset study on crypto-friendly US states, Texas ranked fourth with New Jersey, behind Nevada in first place, then Florida, followed by California.
In compiling the ranking, the study examined factors including the availability of crypto jobs and the friendliness of local state legislation.
Texas rejects ESG
In August, Texas announced it would sell state funds from several providers, including BlackRock, in response to its focus on environmental, social and governance (ESG) standards.
Texas Comptroller Glenn Hegar said the companies at the heart of the storm are responsible for pushing agendas that threaten the state’s oil and gas industry.
Last month, the state of Louisiana followed suit, selling $794 million from BlackRock, and Louisiana Treasurer John Schroder said “support for ESG investments is inconsistent with the best economic interests and values of Louisiana.”
In response, some observers called on divested states, which also include Utah, Arkansas and West Virginia, to buy Bitcoin instead.
