In a significant move that demonstrates the growing acceptance and recognition of cryptocurrencies, Texas legislators have voted to include the right to own, possess, and utilize crypto assets in an updated version of the Bill of Rights. State Representative Giovani Capriglione introduced HJR 146, which received resounding support from the majority of legislators. The incorporation of crypto rights in the Texas Bill of Rights demonstrates the state’s dedication to embracing the digital asset revolution and safeguarding the individual liberties of its citizens.

The updated bill states explicitly: “The right of the people to own, hold, and use a mutually agreed-upon medium of exchange, including cash, coin, bullion, digital currency, and scrip, when trading and contracting for goods and services shall not be infringed.” This provision assures that individuals in Texas have the legal right to engage in cryptocurrency transactions without interference or prohibition from the government.

Similar to the U.S. Bill of Rights, the Texas Bill of Rights protects basic liberties such as freedom of speech, religion, and the press. By incorporating crypto rights, Texas recognizes the increasing significance of digital currencies in the modern economy and the need to secure individuals’ financial freedoms. This action is consistent with Texas’s reputation as a business-friendly, innovative, and technologically advanced state.

While the Texas Bill of Rights protects some rights similar to the U.S. Bill of Rights, it also contains provisions that are unique to Texas. Among these are the right to bear arms and the right to a speedy trial. Now, by recognizing crypto rights, Texas distinguishes itself as a jurisdiction that not only respects traditional liberties but also recognizes the transformative potential of cryptocurrencies and blockchain technology.

Consequences of Crypto Adoption

The addition of crypto rights to the Texas Bill of Rights conveys a strong message to the state’s crypto community and businesses. Individuals can engage in digital currency transactions with confidence and legal protection. This creates a favorable environment for crypto innovation, investment, and adoption. Texas positions itself as a center for crypto-related businesses and a leader in blockchain technology by formally recognizing cryptocurrencies as legitimate forms of currency.

The decision by Texas legislators to include crypto rights in the amended Bill of Rights represents a major step forward in the mainstream acceptance of cryptocurrencies. Texas demonstrates its commitment to financial liberty and technological advancement by affirming the right of individuals to own, possess, and use crypto assets. This legislative action positions Texas as a welcoming jurisdiction for cryptocurrency enthusiasts, businesses, and innovators, as cryptocurrencies continue to influence the future of finance. The incorporation of crypto rights in the Texas Bill of Rights demonstrates the state’s commitment to safeguarding individual liberties and fostering the growth of the crypto ecosystem.