The bill formally defines virtual currencies and offers individuals and businesses a clear legal environment for bitcoin investment.
State lawmakers in Austin, Texas have achieved a milestone in Bitcoin regulation as the state Senate passed House Bill 4474 this morning. The “Virtual Currency Bill” is now on its way to Governor Greg Abbott’s desk to be signed into law. Advocates of the bill expect swift action from the governor, who tweeted this March, “Count me in as a crypto law proposal supporter. It is increasingly being used for transactions and is beginning to go mainstream as an investment. Texas should lead on this.”
