Texas Lawmaker Launches Resolution to Protect Bitcoin Investors – On Monday, Representative Cody Harris introduced House Concurrent Resolution 89 (HCR89) in the Texas House of Representatives. This legislative proposal advocates for the bitcoin economy in Texas and, if approved by both the House and the Senate, will become a concurrent resolution. Although it does not carry the weight of law, a concurrent resolution requires the approval of both chambers of the state legislature.
The resolution reads: “The individuals who own bitcoin should be protected under Section 9, Article I, Texas Constitution, which states that ‘The people shall be secure in their persons, houses, papers and possessions, from all unreasonable seizures or searches’; this right should also extend to digital possessions, such as cryptocurrencies.”
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Moreover, the resolution not only aims to obtain backing from the state legislature to protect “individuals who code or develop on the Bitcoin network” but also welcomes bitcoin miners “to seek out any forms of energy to help secure the Bitcoin network in the state of Texas.” The resolution adds: “Individuals who mine bitcoin in Texas will never be inhibited by any law or resolution that restricts the practice of securing the Bitcoin network for the safety of the virtual currency.”
Furthermore, the resolution states: “No citizen of Texas shall ever be deprived of their right to own bitcoin and that all bitcoin owners will be protected as they enjoy all the privileges associated with the cryptocurrency, including the immunity afforded by censorship-resistant spending of bitcoin and the ability to store bitcoin in an unhosted wallet without undue interference from any state agency.”
Representative Cody Harris’s introduction of House Concurrent Resolution 89 (HCR89) in the Texas House of Representatives is a significant step towards protecting bitcoin investors in Texas. The resolution aims to ensure that individuals who own, code, develop, and mine bitcoin in Texas are secure from any unreasonable seizures or searches. Additionally, the resolution encourages bitcoin miners to seek out any forms of energy to help secure the Bitcoin network in the state of Texas.
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