important point
- The Texas legislature voted affirmatively to add the right to use digital assets as a “mutually agreed medium of exchange” to the Texas Bill of Rights.
- A federal objection could set a national precedent for adding the use of digital assets to the U.S. Bill of Rights.
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Texas made a historic move vote The proposed amendment to state bills of rights to include owning, retaining and using cryptocurrencies marks a major step towards the adoption of digital assets. This new addition, called House Joint Resolution 146 (HJR146), was upheld by the Texas legislature on May 10 and May 11. passed it There were 139 votes in favor and 2 votes against. The official bill states:
“The right of citizens to possess, hold and use mutually agreed mediums of exchange such as cash, coins, bullion, digital currencies and privately issued instruments in the course of trading and contracting for goods and services shall not be infringed. .”
Texas Bill of Rights mirror United States Bill of Rights. It is intended to protect the rights of religion, free speech and other human rights enshrined in the United States Bill of Rights. But the Texas one has additional gun-owning rights and protections from debt incarceration.
Tom Glass A founding member of the Texas Constitutional Enforcement Group, he took to Twitter to discuss the next steps for HJR146.
The purpose of adding this to the Texas Bill of Rights is to appeal to federal justice to invoke the 9th Amendment to the U.S. Constitution, and that there are natural rights beyond the 8th Amendment. If Texas permits, the federal government should:
— Tom Glass (@tomgglass) May 11, 2023
The upcoming House vote on HJR 146 marks an important step toward solidifying the right of Texans to use digital currency in the state. If this amendment is successfully added as an amendment and receives public support, it could set a precedent for other states to follow because of the 9th Amendment, as explained in the tweet above. be.
U.S. Bill of Rights Amendment 9 state It provides that “the enumeration of particular rights in the Constitution shall not be construed as denying or disrespecting other rights held by the people,” and that there are rights not listed in other amendments. Substantially clarified that. If a federal court decides to challenge this decision, the 9th Amendment could help strengthen mainstream acceptance of cryptocurrencies across the United States.