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Texas Governor Signs Groundbreaking Cryptocurrency Bill into Law

Amy Liu

Summary: Texas Governor Greg Abbott has signed into law a game-changing cryptocurrency bill, according to his recent tweet: "I just signed a law that puts virtual currency under the Texas Uniform Commercial Code to be a secured transaction. It defines virtual currency, establishes when a person acquires a right in it, and when a person has ...

Texas Governor Greg Abbott has signed into law a game-changing cryptocurrency bill, according to his recent tweet: "I just signed a law that puts virtual currency under the Texas Uniform Commercial Code to be a secured transaction. It defines virtual currency, establishes when a person acquires a right in it, and when a person has control of it.  "

The legislation provides a formal definition of the term “virtual currency” while outlining guidelines for cryptocurrency businesses in the state.

By Amy Liu

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