• Latest
  • Trending
Texas Law-Makers Continue To Embrace Cryptocurrency

Texas Law-Makers Continue To Embrace Cryptocurrency

October 29, 2021
Chainlink (LINK) Keeping Eye on NFTs, Check Out Reason

Chainlink (LINK) Keeping Eye on NFTs, Check Out Reason

February 1, 2023
NFT Collection Cool Cats Rebrands to Expand its Reach Beyond Web3

NFT Collection Cool Cats Rebrands to Expand its Reach Beyond Web3

February 1, 2023
The Crypto Market Cycles: A Guide to Understanding its Phases and Making Strategic Investments | by BSuccessful | The Capital | Jan, 2023

The Crypto Market Cycles: A Guide to Understanding its Phases and Making Strategic Investments | by BSuccessful | The Capital | Jan, 2023

February 1, 2023
BonqDAO protocol suffers $120M loss after oracle hack

BonqDAO protocol suffers $120M loss after oracle hack

February 1, 2023
DOGE Price Analysis for February 1

DOGE Price Analysis for February 1

February 1, 2023
Crypto Long & Short: Bitcoin’s Hedge Potential

Crypto Long & Short: Bitcoin’s Hedge Potential

February 1, 2023
MakerDAO announces a $5M legal defense fund

MakerDAO announces a $5M legal defense fund

February 1, 2023
US Treasury lists BTC, ETH addresses tied to Russian sanctions evasion group

US Treasury lists BTC, ETH addresses tied to Russian sanctions evasion group

February 1, 2023
Step-by-Step Guide to Safely Invest in Cryptocurrency | by CryptoRoom | The Capital | Jan, 2023

Step-by-Step Guide to Safely Invest in Cryptocurrency | by CryptoRoom | The Capital | Jan, 2023

February 1, 2023
  • Privacy Policy
Wednesday, February 1, 2023
Mount Rushmore Crypto
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
Mount Rushmore Crypto
No Result
View All Result
Home Crypto Technical Analysis

Texas Law-Makers Continue To Embrace Cryptocurrency

J_News by J_News
October 29, 2021
in Crypto Technical Analysis, Top News
0
Texas Law-Makers Continue To Embrace Cryptocurrency
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter


Republican Senator, Ted Cruz, was an attendee at the Texas Blockchain summit on October 8, 2021. According to a report by The Texas Tribune, Senator Cruz said “I would like to see Texas become the center of the universe for bitcoin and crypto.” He made the declaration in front of an audience of 700 attendees.

The senator added that Texas and crypto were a perfect pair. He noted that there was a natural synergy between the state’s ethos and blockchain. The Senator added that Texas “lionizes” entrepreneurs. He pointed to the state’s anti-regulatory laws, which appeal to an industry that prioritizes privacy. Senator Cruz noted that the crypto community was built on “individual freedom, individual responsibility” and a lack of government dependence.

Republican Lawmakers Support Crypto

Besides Senator Cruz, several other Republican lawmakers echoed his sentiment. They made a case for the crypto industry alongside several entrepreneurs and researchers in the industry. Besides using blockchain technology in the finance world, lawmakers discussed other possible uses. They included using the blockchain for property taxes, securing health care records, and protecting elections.

However, the industry has its skeptics. Most are worried about the massive amount of power needed to mine Bitcoin, which has led to environmental concerns. There are also worries about the impact of crypto mining on Texas’s fragile power grid.

Rockdale – The Hub Of Crypto Mining In Texas

Rockdale was on the verge of economic collapse a decade ago. The first major hit to the town was in 2008 when the Alcoa aluminum plant shut down. It provided around 1000 jobs to the town. Later, the Luminant coal power plant shut down in 2017.

However, crypto has helped to save the town of around 5300 residents. The biggest BTC mine in North America, which is operated by Whinstone US, is located a short distance from the closed aluminum plant. It has created around 145 jobs. While that is well below the number of jobs lost, the mining hub, which is owned by Riot Blockchain, has done a lot for the community. For instance, it helped to rebuild the dog shelter, install lights at the high school football, and softball fields, and bought the town a 32-foot Christmas tree.

Commenting on the plant, Mayor John King of Rockdale, said that it has brought a lot of interest in the community. According to the mayor, the international publicity generated had led to other companies considering moving there. He added that there had not been any real negative impact from the plant.

The BTC mining plant plans to double its capacity, which will make it the biggest mining farm in the world, according to its CEO Chad Everett Harris. Rockdale has become the hub of Texas’s ambitions to become a leader in crypto mining. Federal and state lawmakers have fully backed the push towards blockchain technology. Entrepreneurs in the sector say that the state’s cheap energy and lenient regulation have been a major draw for them.

It has not all been smooth sailing for the state. A good example of this was in 2018 when a Chinese firm that specialized in crypto mining rigs, promised hundreds of jobs and a $500 million investment in the shuttered aluminum plant. At the end of 2018, with the price of BTC tumbling, those plans were never fulfilled. However, Texas leaders have stood with the crypto industry and pressed forward. Governor Greg Abbot tweeted that the state would soon be “#1 for blockchain & cryptocurrency.”

Great to host the Texas Blockchain Council at the Governor’s Mansion this week.

Texas is the #1 state for:
➡️ Oil
➡️ Natural gas
➡️ Wind power
➡️ Exports
➡️ Business environment

& soon we will be #1 for blockchain & cryptocurrency.
@txblockchain1 pic.twitter.com/fpXsIJT0kt

— Greg Abbott (@GregAbbott_TX) October 16, 2021

Texas Lawmakers Pass Laws to Grow the Industry

The Texas Legislature took several steps toward growing the industry in 2021. For instance, HB 4474 gave recognition to crypto in Texas’ Uniform Commercial Code. The state also passed HB 1576 that established a 16-member working group that will recommend policies on the blockchain sector.

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however, no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the cryptocurrency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal, or accounting advice.

This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal, and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.





Source link

Related articles

Chainlink (LINK) Keeping Eye on NFTs, Check Out Reason

Chainlink (LINK) Keeping Eye on NFTs, Check Out Reason

February 1, 2023
NFT Collection Cool Cats Rebrands to Expand its Reach Beyond Web3

NFT Collection Cool Cats Rebrands to Expand its Reach Beyond Web3

February 1, 2023
ShareTweetShareShare
Previous Post

Russian crypto market worth $500B despite bad regulation, says exec

Next Post

Amber Group Partners with Climate Tech Company Moss Earth to Buy $2M Carbon Offsets

Related Posts

Chainlink (LINK) Keeping Eye on NFTs, Check Out Reason

Chainlink (LINK) Keeping Eye on NFTs, Check Out Reason

by J_News
February 1, 2023
0

Chainlink (LINK) has established itself as a premier player in the decentralized finance (DeFi) sphere on the cryptocurrency market. The...

NFT Collection Cool Cats Rebrands to Expand its Reach Beyond Web3

NFT Collection Cool Cats Rebrands to Expand its Reach Beyond Web3

by J_News
February 1, 2023
0

“Whether you're using our PFPs or you're attending one of our events, or you're wearing merch, that is the emotional...

The Crypto Market Cycles: A Guide to Understanding its Phases and Making Strategic Investments | by BSuccessful | The Capital | Jan, 2023

The Crypto Market Cycles: A Guide to Understanding its Phases and Making Strategic Investments | by BSuccessful | The Capital | Jan, 2023

by J_News
February 1, 2023
0

Market CyclesCryptocurrency has become a popular investment option in recent years, with many individuals and institutions exploring the potential of...

BonqDAO protocol suffers $120M loss after oracle hack

BonqDAO protocol suffers $120M loss after oracle hack

by J_News
February 1, 2023
0

A small-scale decentralized autonomous organization (DAO) has suffered a rather sizeable smart contract exploit leading to an estimated $120 million...

DOGE Price Analysis for February 1

DOGE Price Analysis for February 1

by J_News
February 1, 2023
0

Even though the day has started with bulls' dominance, some coins have come back to the red zone by the end...

Load More

Enter your email address:

Delivered by FeedBurner

Quick Navigate

  • Home
  • Crypto
  • Crypto Technical Analysis
  • Top News
  • Thank You
  • Store
  • Crypto Vouchers
  • About Us
  • What Cryptocurrency Is and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

Top News

Web3 vs Web2 – What Are Some Of The Core Differences?

Crypto Adventure Launches Crypto Guest Post Services

Buying Bitcoin now? What this could mean

© 2021 mtrushmorecrypto - Crypto Related News Blog

No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

© 2021 mtrushmorecrypto - Crypto Related News Blog

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT