Cody Harris, a member of the Texas House of Representatives, introduced a resolution aiming for the legislature to say that “the Bitcoin economy is welcome” in the state.
In a resolution issued on March 21, Harris encourages Texas lawmakers to “express support for protecting people who code or develop on the Bitcoin network,” as well as miners and Bitcoiners operating in the Lone Star State. The state representative added that Texas’ constitutional rights regarding “all unreasonable seizures or searches” should extend to attempts to review residents’ digital asset holdings.
“Individuals who mine Bitcoin in Texas shall never be inhibited by any law or resolution restricting the practice of securing the Bitcoin network for the safety of virtual currency,” the resolution said. “All those in the broader community who choose to own Bitcoin as a way to store their wealth and transact peer-to-peer with other law-abiding Texans will always feel free and secure in their ownership and use of Bitcoin.”
Representative Cody Harris (@codyfortexas) presents the Concurrent Resolution of the Chamber 89 to protect the rights of #bitcoin headlines in #Texas. DC: @TXblockchain_ https://t.co/e2z5SbmoJ1
— Natalie Smolenski (@NSmolenski) March 21, 2023
House Concurring Resolution 89, if adopted, would largely not apply to Texas laws and regulations, but rather express a certain sentiment among legislators. The resolution cited the Chinese government’s crackdown on crypto miners, a move that brought many companies to Texas. Riot Platforms, Core Scientific and White Rock Management are among some of the companies that have established operations in the Lone Star State.
Under state business laws, cryptocurrencies are recognized as part of an amendment to the Texas Uniform Commercial Code. However, some federal lawmakers have criticized Texas’ apparently lax regulatory regime over the potential environmental impact caused by energy consumption by mining companies.
Related: Bitcoin Mining Advocate Goes State to State to Educate US Lawmakers
Texas Governor Greg Abbott, re-elected to another four-year term in November 2022, has previously referred to himself as a “crypto bill supporter” in the state. According to Florida Gov. Ron DeSantis, Texas was considering banning central bank digital currencies, both foreign and domestic, following a similar initiative announced by his office on March 20.
