Cryptheory: NFT, Play-to-Earn, Crypto News

24/7 crypto news, cryptocurrency meaning, guides, learning, #cryptohelpschildren

Texas Governor Candidate Says He Will Make BTC Legal If Elected

3 min read

Republican candidate for governor of Texas, Don Huffines, recently released his plan to make Texas the leading state in America for BTC and other cryptocurrencies. He has promised that if elected, he will make BTC a legal tender in the state.

“I have had BTC for years and I strongly believe in its value as an asset and potential as a currency. As a leader in innovation, Texas must lead the nation in BTC policy and cryptocurrency adoption. I am committed to making Texas the BTC city and protecting the industry from the federal government.”

Also according to Huffines, it is clear that the federal government is trying to shut down or limit “freedom-loving Texans who are investing in BTC.”

“Without a courageous governor to oppose them, they will. Not on my shift,” he assured.

BTC Projects in Texas

Huffines has a specific topic for BTC and cryptocurrencies in general on his site .

According to the website, the candidate’s plan requires BTC to be declared as legal tender. In addition, it provides for the formation of the BTC and Cryptocurrency Policy Commission. This commission will have the task of identifying the usefulness of the coins that can be recognised.

“This will allow trade to take place with BTC and provide confidence to increase in alternative means of exchange that will be complementary to the US dollar,” the website says.

Candidate promises to keep part of the reserve in BTC

Huffines also intends to work with energy producers, electrical retailers and cryptocurrency miners. Its aim is to “establish a more robust and reliable power grid”.

The plans also include protecting citizens and businesses from federal government interference and Federal Reserve-induced inflation. For this, the candidate said that he will keep part of the state reserve funds in BTC.

At the same time, it aims to eliminate barriers to citizens owning, mining and transacting in BTC. Finally, he wants to ban locales from regulating BTC miners and BTC holders.

Miami – crypto capital

Plans of Huffines are in line with those of Miami Mayor Francis Suarez. As reported by Cryptheory, the mayor recently became the first US politician to receive his payment in BTC.

Also, in October, Suarez announced a plan that would allow city workers to accept their paychecks in BTC. At that time, he stated that his desire was to turn Miami into a “crypto capital”.

According to Suarez, the most significant advantage of BTC is that it is not tied to the fiat system or monetary policy.

Just late last year, Suarez helped the city launch its own cryptocurrency, MiamiCoin. In November, he announced that he would give BTC yields to MiamiCoin holders.

“We will be the first city in America to give a BTC income as a dividend directly to its residents,” said Suarez.

Suarez’s crypto initiatives served as inspiration for New York Mayor Eric Adams. He also announced that he would receive his first BTC salaries. Likewise, he launched the city’s own cryptocurrency, NYCCoin.

Miner finds BTC block using only one miner via USB

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply

Your email address will not be published.