Key Takeaways
- Texas legislature voted positively to add the right to use digital assets as “a mutually agreed upon medium of alternate” to Texas’ Bill of Rights.
- If contested by the federal authorities, this might spark a nation-wide precedent to add the use of digital assets to the United States Bill of Rights.
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The state of Texas has made a historic transfer by voting on an modification that features the possession, retainment and utilization of cryptocurrencies in its state Bill of Rights, signaling a significant step towards digital-asset adoption. This new addition known as House Joint Resolution 146 (HJR146) and backed by the Texas state legislature on May 10 and May 11, handed with 139 votes for and two votes towards. The official invoice states:
“The right of the people to own, hold, and use a mutually agreed upon medium of exchange, including cash, coin, bullion, digital currency, or privately issued scrip, when trading and contracting for goods and services shall not be infringed.”
The Texas Bill of Rights mirrors the United States Bill of Rights, meant to defend human rights similar to freedom of faith, speech and others acknowledged within the U.S. Bill of Rights. Texas’, nevertheless, consists of additions such because the human right to personal weapons and safety from being imprisoned due to debt.
Tom Glass, founding memeber of the Texas Constitutional Enforcement group, went to Twitter to state the following steps of HJR146:
Objective of including this to the Texas Bill of Rights is to make a case within the federal judiciary to invoke the ninth Amendment to the U.S. Constitution which says that there are different pure rights apart from these within the first 8 amendments. If Texas acknowledges, the feds ought to underneath…
— Tom Glass (@tomgglass) May 11, 2023
The forthcoming House vote on HJR 146 marks an necessary step in the direction of solidifying the right of Texans to make the most of digital currencies inside their state. If the modification is efficiently added as an modification and positive aspects in style assist, it may set a precedent for different states to observe go well with as a result of of the ninth Amendment, as defined within the tweet above.
The ninth Amendment of the U.S. Bill of Rights states that “the enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people,” primarily placing into writing that rights not listed within the different amendments exist. If the Federal courts determine to contest this determination, the ninth Amendment may assist bolster the mainstream acceptance of cryptocurrencies throughout the United States.