In a significant move, Texas legislators have given their approval to a crucial amendment in the state’s Bill of Rights, officially recognizing the rights of individuals to possess, use, and retain digital currencies such as Bitcoin. This decision, made on May 10, paves the way for Texans to freely engage in trading and transactions involving cryptocurrencies.
The amendment, known as Bill HJR 146 and introduced by State Representative Giovani Capriglione, firmly establishes that individuals have the right to use various forms of exchange, including digital currencies, cash, coins, bullion, or scrip, for the purpose of trading goods and services. Importantly, this right is protected and cannot be violated.
With an overwhelming majority, the document secured an impressive 139 votes in favor, with only two opposing it. The legislation also includes a strong statement that prohibits any government from impeding or hindering the ownership or possession of any form or amount of money or currency.
The Texas Bill of Rights safeguards fundamental liberties, akin to the U.S. Bill of Rights, including freedom of speech, religion, and press. It also incorporates specific provisions unique to Texas, such as the right to a swift trial and the right to self-defense through the lawful possession and carrying of weapons.
If successfully enacted, this recent amendment will grant Texans the privilege to actively utilize digital currencies like Bitcoin. To achieve this, the bill will still need to undergo another House vote before progressing to the Senate for further deliberation, followed by a final vote by the people.
Tom Glass, the founder of the Texas Constitutional Enforcement group, explained that the inclusion of the right to own, hold, and use digital currencies in the Texas Bill of Rights seeks to establish a solid legal argument within the federal judiciary. This argument would invoke the ninth amendment of the U.S. Constitution, which recognizes the existence of inherent rights beyond those explicitly enumerated in the preceding eight amendments.
The Texas Constitutional Enforcement group emphasizes the criticality of incorporating digital currencies into the state’s Bill of Rights as a means to safeguard the financial privacy of Texans. They contend that utilizing alternative currencies is necessary to protect hard-earned wealth from the potential erosion caused by the volatility of the U.S. dollar. Furthermore, the group stresses the importance of avoiding sole reliance on global financial elites, as this could jeopardize the value and security of Texans’ financial assets.