Texas Takes Action For Gold-Backed Cryptocurrency – Cryptocurrency News | Coins Booster
Texas Takes Action For Gold-Backed Cryptocurrency – Cryptocurrency News | Coins Booster
Texas, one of the leading states in the field of crypto money, took action to issue a crypto money this time. Texas was also more moderate in crypto mining last year compared to other states. State lawmakers seem to have taken a different view on the stablecoin. Texas Wants to Launch Gold-Based Cryptocurrency Lawmakers in the US have agreed that a US dollar-based central bank digital currency ( CBDC ), Texas chooses to take a different route with the creation of state-issued gold. This is a gold-backed digital currency. Based on Senate Bill 2334, presented by State Senator Bryan Hughes, and House Act 4903, presented by state Representative Mark Dorazio, legislators proposed issuing an all-gold-backed digital currency from the state auditor, which can be used entirely as cash or gold. The auditor will also need to create a mechanism that will allow the new gold-based digital currency to be used by citizens in their day-to-day transactions. The following statements were included in the previous text as an explanation:
