‘Bitcoin economy is welcome in Texas,’ new proposal states

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A Texas legislator has proposed a new resolution that commits the state’s lawmakers to a pledge to promote digital asset adoption. State Rep. Cody Harris wants the world to know that the “Bitcoin economy is welcome in Texas.”

The resolution expresses support for protecting block reward miners, urging his fellow lawmakers to resolve that these miners will never be inhibited by any law or proposition from their activities. Miners are also welcome to seek any form of energy to power their mining rigs.

Access to energy for block reward miners has become a contentious issue in the U.S. and beyond. In New York last November, Governor Kathy Hochul signed into law a bill that barred miners from accessing carbon-based power sources. Beyond the U.S., miners in countries like Iran are denied access to power during periods of high electricity demand.

Access to power has been a major factor attracting miners to the Lone Star State. Last year, the state’s grid operator reportedly received requests for 27GW of power from miners, a steep rise from the 2GW they currently tap. Miners have also sought credit for the rapid rise in renewable power supply in the state.

Not everyone is a fan of this approach, with Senator Elizabeth Warren (D-MA) blasting the state grid operator for “loose regulations” that she believes pose a danger to power availability for Texans.

Blockchain developers should also be protected by the state’s laws which provide liberty to speak, write and publish one’s opinion on any subject, Rep. Harris continues.

The legislator wants the world to know that “the Bitcoin economy is welcome in Texas.”

“…all those in the broader community who choose to own Bitcoin as a manner of storing their wealth and transacting peer-to-peer with other law-abiding Texas citizens shall always feel free and safe in their ownership and use of Bitcoin in the state of Texas,” he concluded.

Watch: Blockchain mining & energy innovation