Texas lawmakers vote to add digital currency to the state’s Bill of Rights, granting individuals the right to utilize digital currencies like Bitcoin for trading.
United States state legislators in Texas have voted to amend the state’s Bill of Rights and add a provision recognizing the right of individualities to possess, retain and use digital currencies. The decision was made on Wednesday, May 10.
Bill HJR 146, presented by State Representative Giovani Capriglione, declares that individuals have the right to utilize a medium of exchange that's mutually agreed upon, which includes digital currencies, cash, coin, bullion, or scrip, for trading and contracting goods and services, and that this right can not be violated.
The document received 139 votes in favor, with alone two against, and it includes a statement that “ no regime shall prohibit or hinder the ownership or holding of any form or volume of money or different currency. “
The Texas Bill of Rights safeguards essential liberties like freedom of speech, religion, and press, such as the U.S. Bill of Rights. Still, it similarly includes specific clauses pertaining to Texas, similar as the right to a prompt trial and the right to possess and carry weapons for self-defense.
Should it pass and become law, the recent amendment will furthermore grant Texans the privilege to use digital currencies, like Bitcoin BTC $26,807. Tom Glass, who established the Texas Constitutional Enforcement group, noted on Thursday, May 11, that there's one more House vote on HJR 146, and then it goes to the Senate and a vote of the people.
In his explanation of the bill, Glass stated that it aims to leverage the inclusion of the right to own, hold and utilize digital currencies in the Texas Bill of Rights to make a legal argument in the federal judiciary. This argument would invoke the ninth amendment to the U.S. Constitution, which recognizes the existence of natural rights beyond those explicitly listed in the initial eight amendments.
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According to the Texas Constitutional Enforcement group, including digital currencies in the Texas Bill of Rights is key to safeguarding Texans ’ financial privacy. They stated that utilizing alternate currencies is required to protect the wealth Texans have worked hard to accumulate from being eroded by an unsteady U.S. dollar. The group similarly emphasized that Texans shouldn't be forced to rely only on the services of global financial elites, as it would put all of their financial assets at threat of devaluation and confiscation.
(AMAKA NWAOKOCHA, Cointelegraph, 2023)