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Texas Considers Incorporating Bitcoin Into The State Constitution, Allowing Bitcoin To Be Used To Pay Property Taxes
Summary: The chairman of the Texas Blockchain Council, Lee Bratcher, told Cointelegraph that members of the committee are discussing embed Bitcoin into the state constitution. Bratcher said this may be a constitutional amendment that allows Bitcoin to be used to pay property taxes, he added: "This would put Bitcoin on par with gold at the Texas Comptroller's ...
The chairman of the Texas Blockchain Council, Lee Bratcher, told Cointelegraph that members of the committee are discussing embed Bitcoin into the state constitution.
Bratcher said this may be a constitutional amendment that allows Bitcoin to be used to pay property taxes, he added: "This would put Bitcoin on par with gold at the Texas Comptroller's Office and Treasury."
According to Bratcher, a constitutional proposal for Bitcoin may take several years.
The Texas House of Representatives bills 4474 and 1576 have come into effect on September 1. The bill ensures that cryptocurrencies are recognized under the state commercial law, recognizes the legal status of virtual currencies in the state, and clearly defined virtual currency, how to show control over virtual currency, or how to become a qualified purchaser.
By Mary Liu
Tags: Bitcoin,Texas
Link: Texas Considers Incorporating Bitcoin Into The State Constitution, Allowing Bitcoin To Be Used To Pay Property Taxes [Copy]
