Texas Commercial Law Making Crypto Legal In The State Goes Into Effect
Crypto has been making the rounds in the United States of late. While some states have been against the legalization of cryptocurrencies and blockchain technology, other states have embraced them with open arms. One of these states is Texas, which had approved two bills that would see cryptocurrency and blockchain technology incorporated into its business […]
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Texas House Bills 4474 and 1576 officially took effect on Sept. 1 after being signed into law by Governor Greg Abbott in June. Two bills aimed at furthering the adoption of cryptocurrencies and blockchain are now law in the state of Texas.Texas House Bills 4474 and 1576, passed by both chambers in the state legislature in May and signed into law by Governor Greg Abbott in June, officially took effect on Sept. 1. H.B. 1576 establishes a blockchain working group in Texas, while H.B. 4474 amends the state's Uniform Commercial Code to recognize cryptocurrencies under commercial law.Lee....
Two pieces of legislation related to cryptocurrencies recently took effect in the state, and many businesses already accept digital payments. A new poll from Newsweek suggests that as many as 10.8 million Texans may support legislation making cryptocurrency legal in the next election.According to a Sept. 20 report, a Newsweek poll which surveyed more than 9,700 eligible voters across ten U.S. states suggested that 37% of Texas residents would vote in favor of a ballot measure to make crypto legal, while 42% said they would support crypto-friendly legislation similar to that in Wyoming.....
Will Texas follow in Wyoming’s footsteps to become the next crypto-friendly U.S. state? Everything is bigger in Texas, but when it comes to crypto-friendly legislation, this doesn’t seem to be the case… just yet. On March 12, 2021, Texas Representative Tan Parker introduced the Uniform Commercial Code, also known as UCC, amendment bill (House Bill 4474) to better adapt commercial law to blockchain innovation and digital asset regulations. Specifically speaking, the Texas UCC amendment bill aims to recognize virtual currencies under commercial law. Lee Bratcher, president of the Texas....
Texas aims to catch up with other crypto-friendly states and then some, but commentators say that amending a state constitution won’t happen immediately. Everything is bigger in Texas, which is why it shouldn’t come as a surprise that the Lone Star state is making moves to become America’s next Bitcoin (BTC) hotspot. Most recently, Texas implemented two laws to ensure that cryptocurrencies are recognized under state commercial law. Texas House Bills 4474 and 1576 both took effect on Sept. 1, after being signed into law by Governor Greg Abbott this past June. While H.B. 1576 established a....
Governor Greg Abbott has already hinted he is open to signing the bill into law. Members of the Texas House of Representatives have passed a bill which aims to recognize cryptocurrencies under commercial law in the state.In a session of the 87th Texas Legislature today, lawmakers passed a proposed amendment to the state's Uniform Commercial Code, or UCC, aimed at better adapting commercial law to blockchain innovation and digital asset regulations. First introduced by Representative Tan Parker in March, House Bill 4474 will reportedly help define cryptocurrencies in the UCC. The bill will....