The Texas Bitcoin Bill HB4474 has been passed by the senate early morning on May 27 after being passed by the House of Representatives on May 11. The newly passed Bitcoin bill recognizes Bitcoin and other digital assets under the state’s commercial laws. The approval of the Bill would make Texas another crypto and blockchain-friendly state similar to Wyoming.
The said bill was passed with a resounding 9-0 vote and now needs the signature of Texas Governor Gregg Abbott which seems a formality given he has already stated that he is in favor of new crypto regulations.
The approval of the new Bitcoin Bill will also play a crucial role in helping Texas become a crypto hub, given it is already quite popular among Bitcoin mining companies such as Riot Blockchain and BlockCap.
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