Texas become the first state to regulate Bitcoin
The Texas Department of Banking (DOB) has announced that it will not treat Bitcoin and other cryptocurrencies as money in a memo, whose pdf document version, interestingly enough, is no longer available. Lately, Texas has been in the headlines quite often alongside mentions of Bitcoin, from the launch of one of the first Bitcoin ATMs in the US to the State’s Attorney General accepting Bitcoin contributions for his gubernatorial campaign. Indeed, the Lone Star state has been at the forefront of embracing the peer-to-peer digital currency as of late. This is why Daniel Wood, assistant....
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In mid-June, Texas Gov. Greg Abbott signed into law HB 483, paving the way for Texas to repatriate $1 billion in gold from an underground vault in Manhattan operated by HSBC bank, bringing it home to be stored in a yet-to-be-built Texas Bullion Depository, reports HNGN, which also speculated whether this is the first step in Texas' plan to secede. The gold is owned by the University of Texas' endowment fund. "Today I signed HB 483 to provide a secure facility for the State of Texas, state agencies and Texas citizens to store gold bullion and other precious metals,"Abbott said in an....
Today, the Texas Coinitiative posted a new update to their blog: The Texas Alcoholic Beverage Commission OK's Bitcoin-For-Alcohol sales. Elsewhere in the country, Ohio lawmakers have stymied Bitcoin adoption somewhat by banning Bitcoin-For-Alcohol sales in their state. Elsewhere in Texas, the Texas Department of Banking (DOB) released a guidance which clearly states that businesses accepting cryptocurrencies do not require state money transmitting licenses. Texas, as one of the larger states in America, has understandably been leading the charge in Bitcoin adoption. In March, the Texas....
What factors make Texas an ideal state for Bitcoin mining and Blockchain marketing, despite the reluctant attitude among governments and central banks around the globe towards the Cryptocurrency phenomenon? How ideal is the Bitcoin environment for the residents of the state? Are there any new frontiers for the oil and gas industry that are being created by Bitcoin in Texas? CoinTelegraph decided to ask Robert Gonzalez about the problems of Bitcoin and the Blockchain in Texas. Mr. Gonzalez, the founder of UTXO, a Bitcoin mining company based in Houston Texas, says the goal of his company is....
When it comes to creating jobs, don't mess with Texas. The state has had strongerjob growth over the last 13 years than any of the other 49 states, and even though the state will soon have a new governor, Texas will continue to be poised as a leader in job growth, while other states stifle innovation with regulation. Here's why: Texas has embraced companies with a clear regulatory environment and that is not just for big oil. Texas is home to a large aerospace industry and a booming technology sector that could take bitcoin to the moon. You may think California is the bitcoin capital of....
California state officials are considering the creation of a set of regulations that would seek to inform consumers of the risks associated with using virtual currencies while simultaneously creating safeguards against said risks. The Department of Business Oversight claims that the state's money transmitter laws, which are currently used to regulate business such as Western Union, are applicable to Bitcoin. Speaking with Bloomberg, California Department of Business Oversight spokesperson Tom Dresslar said: The consensus among staff is that the department and commissioner could regulate....