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News Link • Bitcoin

Don't Mess with Bitcoin

• by Jamie Redman

On March 2, State Representative Matt Schaefer submitted a proposal to revise the state's constitution to say that virtual currencies like bitcoin are mediums of exchange that "no government shall prohibit."

The Texas lawmaker wants it to be known that the use of digital currencies is a citizen's fundamental right. The recently submitted Texas House Joint Resolution 89 proposes to change Article I of the state's constitution which says that people have the right to use a variety of mediums of exchange. Just as the state of Texas vehemently opposes government interference with gun rights, the amendment would protect currencies like bitcoin in this fashion. Resolution 89 states:

Article I, Texas Constitution, is amended by adding…the right of the people to own, hold, and use a mutually agreed upon medium of exchange, including cash, coin, bullion, digital currency, or scrip when trading and contracting for goods and services shall not be infringed. No government shall prohibit or encumber the ownership or holding of any form or amount of money or other currency."

1 Comments in Response to

Comment by Ed Price
Entered on:

This isn't necessary. Why not? We already have the right to freely contract. An amendment stating such is simply another way to allow Government to regulate and intrude in your lives.

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