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- In the state, two pieces of cryptocurrency law just went into force, and many companies already accept digital payments
- In the upcoming election, Texans may vote for legislation that makes cryptocurrency legal
- More than ten million people in Texas could be in favor of cryptocurrency adoption
In the state, two pieces of cryptocurrency law just went into force, and many companies already accept digital payments. According to a recent Newsweek poll, as many as 10.8 million Texans may vote in favor of legislation making cryptocurrencies legal in the upcoming election.
The majority of the population of Texas is adopting Cryptocurrency
According to a Newsweek study conducted among more than 9,700 eligible voters in ten U.S. states on Sept. 20, 37 percent of Texas people would support a ballot measure to legalize cryptocurrency, while 42 percent would support crypto-friendly legislation comparable to Wyoming’s. Texas, which has a population of around 29 million people, might have more than 10 million residents supporting cryptocurrency adoption by 2021.
The poll was conducted by Redfield & Wilton Strategies in the United Kingdom between Aug. 20 and 24, just before two pieces of crypto law went into force in Texas. House Bills 1576 and 4474 establish a blockchain working group and change the state’s Uniform Commercial Code to recognize cryptocurrencies as legal tender, respectively.
While Texas is becoming a crypto mining hotspot due to its renewable energy sources and loosely regulated power grid, not all retail shops accept Bitcoin (BTC) as a form of payment. H-E-B, a prominent grocery chain, announced in June that it will be hosting crypto ATM machines from Coin Cloud, although some people appear to be wary of larger steps toward adoption.
California is one of the most crypto ready states in the United States
According to Texan and Redditor LordPimpernel, he is unhappy with any non-physical currency being the sole currency. He became aware that there is a push underway to abolish currency, mostly for tracking and taxes purposes. He’s a little too much of an old pirate to accept it.
According to reports, California was one of the states in the United States that were the most crypto-ready. Texas, however, ranked third behind New Jersey in terms of crypto ATMs (about 2,396 according to Crypto Head) and proposed pro-crypto legislation.
H.B. 2199, together with House Bills 1576 and 4474, was passed by the Texas House of Representatives in May before being taken off the Senate calendar. The measure will look into the formation of a legislator-citizen digital identity workgroup. According to Louisa Idel, head of insights at Redfield & Wilton, if a party wants to grab voters interested in crypto, it needs to act quickly—not only to beat the other party to the punch but also to avoid legislation that would be difficult to reverse if implemented.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
