Texas Governor Signs Groundbreaking Cryptocurrency Bill into Law
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 “Virtual Currency Bill”— which positions the Lone Star state as one of the leaders in the crypto industry—was passed by both chambers of the Republican-dominated legislature in May.
Abbott has also signed a bill that bans “Zuckerbucks” (money funneled by private groups for administering state elections).