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Bill to protect bitcoin owners' rights introduced in US Congress
US House of Representatives member Cody Harris has introduced a bill aimed at protecting the rights of bitcoin owners and miners in the state of Texas.
According to lawmaker Cody Harris' proposal, the interests of first cryptocurrency holders should be protected under Article I, Section 9 of the Texas Constitution. It seeks to protect citizens, their homes, documents and property from unreasonable seizures or searches. The resolution suggests that this right should also extend to digital property, including cryptocurrencies. No local resident should be deprived of the right to possess and store bitcoins, Harris argues.
The initiative also aims to protect Bitcoin miners and miners. Bitcoin miners should be allowed to use any form of energy to keep the Bitcoin network stable in Texas. The miners' activities would not be restricted by any laws and regulations, Harris' proposal stated.
The lawmaker also cited China's strict regulation of mining, which has forced many companies to move to other countries with more lenient cryptocurrency regulation, including Texas. However, last year the Environmental Protection Committee in New York State approved a bill for a two-year ban on Proof-of-Work (PoW) cryptocurrency mining. Harris therefore fears that such action will cause bitcoin miners to leave Texas for more friendly jurisdictions.
Recall that Texas Senator Ted Cruz recently called for a ban on the digital dollar because it could hinder bitcoin adoption locally.
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Thank you for this interesting article. Can you continue to cover this topic?
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Thank you for this interesting article. Can you continue to cover this topic?
<p>Thank you for this interesting article. Can you continue to cover this topic?</p>
Thank you. I'll keep an eye on this thread and if anything new comes up, I'll post it.
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