{"id":246856,"date":"2021-05-12T00:10:00","date_gmt":"2021-05-11T21:10:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/texas-house-passes-crypto-friendly-bill-now-goes-to-senate\/"},"modified":"2021-05-12T00:10:00","modified_gmt":"2021-05-11T21:10:00","slug":"texas-house-passes-crypto-friendly-bill-now-goes-to-senate","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/texas-house-passes-crypto-friendly-bill-now-goes-to-senate\/","title":{"rendered":"# Texas house passes crypto-friendly bill, now goes to senate"},"content":{"rendered":"<p>&#8220;<strong># Texas house passes crypto-friendly bill, now goes to senate <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNGM2M2M1MWQtNjA1ZC00MGZhLWI5MzgtYTc1OTI0OWYxZTMwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Members of the Texas House of Representatives have passed a bill which aims to recognize cryptocurrencies under commercial law in the state.<\/p>\n<p>In a session of the 87th Texas Legislature today, lawmakers <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/house.texas.gov\/video-audio\/\">passed<\/a> a proposed amendment to the state&#8217;s Uniform Commercial Code, or UCC, aimed at better adapting commercial law to blockchain innovation and digital asset regulations.\u00a0First introduced by Representative Tan Parker in March,\u00a0House Bill 4474 will reportedly help\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/capitol.texas.gov\/tlodocs\/87R\/billtext\/pdf\/HB04474I.pdf\">define<\/a>\u00a0cryptocurrencies in the UCC.\u00a0<\/p>\n<p>The bill will now go to the Texas Senate for any proposed amendments and potentially a final vote. Should the crypto legislation pass the senate, Texas Governor Greg Abbott can sign the bill into law. Abbott has already <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/GregAbbott_TX\/status\/1376408028875001868\">said<\/a> he is a \u201ccrypto law proposal supporter\u201d \u2014 specifically referencing HB 4474 \u2014 and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/GregAbbott_TX\/status\/1389769883370536972\">seemed<\/a> to encourage Bitcoin (BTC) mining firms to set up shop in the state.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Count me in as a crypto law proposal supporter. <\/p>\n<p>It is increasingly being used for transactions and is beginning to go mainstream as an investment. (Fidelity, etc. trying to get Bitcoin ETF).<\/p>\n<p>Texas should lead on this like we did with a gold depository. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/1z25mtgnmu\">https:\/\/t.co\/1z25mtgnmu<\/a><\/p>\n<p>\u2014 Greg Abbott (@GregAbbott_TX) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/GregAbbott_TX\/status\/1376408028875001868?ref_src=twsrc%5Etfw\">March 29, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Lee Bratcher, president of the Texas Blockchain Council, told Cointelegraph in March that the bill could bring Texas closer to being a crypto-friendly state like Wyoming. One of the only states in the country to clarify the definition of virtual currencies for businesses, Wyoming has attracted major firms including Ripple. Last year, the Wyoming State Banking Board granted crypto exchange Kraken a charter to operate as a crypto-friendly bank and gave Avanti the green light to receive and custody crypto in a similar fashion.<\/p>\n<p>Texas is already home to crypto mining firms including BlockCap and Riot Blockchain.\u00a0Both companies\u00a0 have said they are planning to expand their mining ventures in the state with the purchase of new facilities and equipment.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/texas-house-passes-crypto-friendly-bill-now-goes-to-senate\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Texas house passes crypto-friendly bill, now goes to senate &#8221; 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&#8217;s Uniform Commercial Code, or UCC,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":246857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNGM2M2M1MWQtNjA1ZC00MGZhLWI5MzgtYTc1OTI0OWYxZTMwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74858,55229,72692,70934,6474,67874],"class_list":["post-246856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-regulation","tag-law","tag-legislation","tag-regulation","tag-texas","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/246856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=246856"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/246856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/246857"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=246856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=246856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=246856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}