Key Takeaways:
- Don Huffines, a conservative Republican candidate for Governor of Texas, unveiled his strategy to make Texas the nation’s leading cryptocurrency state.
- Texas Governor Candidate Wants to Make Texas a “Bitcoin Citadel.”
Don Huffines, a Texas governor candidate, has stated that he is “committed to making Texas the citadel for bitcoin” and has released a plan outlining his plans.
“As a leader in innovation, Texas must lead the nation in Bitcoin and cryptocurrency adoption,” the report states. “Not only by recognizing, supporting, and promoting the industry, but also by leveraging our natural resources and state power to legitimize Bitcoin as a store of value, medium of exchange, and unit of account.”
According to Huffines, the state must prevent the federal government from “discriminating against Bitcoin holders” and “attempting to shut down or limit freedom-loving Texans investing in Bitcoin.
“Not only does the plan call for bitcoin to be declared legal tender, but it also calls for the formation of the Bitcoin & Cryptocurrency Policy Commission, which will be tasked with identifying the utility of currencies that can be recognized. As accepted Texas currency.”
With its new governor candidate, Texas, the second largest and most populous state in the United States, has the potential to make a rapid entry into the crypto money world. In his statement on the subject, Don Huffines, a Texas gubernatorial candidate, stated that if elected, he will make Bitcoin a legitimate currency, at least in Texas.
The candidate for governor also has a severe audience, emphasizing that the crypto money industry is growing at an incredible rate and that it is necessary to be a part of the future.
Even if it is unknown how Huffines declares BTC as a legitimate currency or how the central government will react to this, the mere mention of BTC in such matters is a significant development.
Greg Abbott, the current governor of Texas, addressed Bitcoin miners and invited them to his state.
In addition to emphasizing that Bitcoin miners will contribute to Texas’ growth, Abbott promised to change electricity grids to regulate in response to rising demand. For the time being, the situation in Texas can be described as crypto-friendly.
