The decision to amend the state’s Bill of Rights and add a provision recognizing the right of individuals to possess, retain and utilize digital currencies was made by Texas state legislators on Wednesday, May 10th.
State Representative Giovani Capriglione introduced Bill HJR 146, which declares that individuals have the right to use a medium of exchange that is mutually agreed upon, including digital currencies, cash, coin, bullion, or scrip, for trading and contracting goods and services. The bill states that this right cannot be violated.
139 legislators voted in favor of the document, with only two against it. The document also contains a statement that prohibits the government from prohibiting or hindering the ownership or holding of any form or quantity of money or other currency.
The Texas Bill of Rights protects fundamental liberties such as freedom of speech, religion, and press, which are similar to those guaranteed by the U.S. Bill of Rights. However, it also contains specific provisions related to Texas, such as the right to a speedy trial and the right to possess and carry weapons for self-defense.
If the recent amendment passes and becomes law, Texans will be granted the privilege to utilize digital currencies, like Bitcoin. On Thursday, May 11, Tom Glass, the founder of the Texas Constitutional Enforcement group, commented that there is one more House vote on HJR 146 before it goes to the Senate and a vote of the people.
Glass aims to use the Texas Bill of Rights provision on digital currency ownership to argue in the federal judiciary invoking the ninth amendment to the U.S. Constitution. The ninth amendment acknowledges natural rights beyond the first eight amendments.
The Texas Constitutional Enforcement group believes that adding digital currencies to the Texas Bill of Rights is crucial for protecting Texans’ financial privacy. They argue that using alternative currencies is necessary to prevent the erosion of wealth due to an unstable U.S. dollar. The group also emphasizes that Texans should not be forced to rely solely on the services of global financial elites, as it would put their financial assets at risk of devaluation and confiscation.