Even though governments cannot actively prevent users from exposing themselves to bitcoin, a lot of people are still concerned about what policymakers may do. Texas, of all places, is keeping an open mind toward bitcoin and cryptocurrency. In fact, one representative wants to ensure bitcoin cannot be prohibited by any government moving forward.
Governments Can’t Ban Bitcoin To Begin With
A lot of people still seem unaware of how bitcoin cannot be controlled. This means no bank, government, or other third party can obligate people not to use bitcoin for whatever means they see necessary. All a government can do is limit the functionality of bitcoin companies, such as exchanges and brokers. The cryptocurrency itself, however, will never be affected by any government actions.
Interestingly enough, one Texas State Representative is looking to do things a bit differently. Matt Schaefer submitted a proposal to revise the state constitution when it comes to bitcoin. In fact, he wants to ensure bitcoin remains a medium of exchange that governments “shall not prohibit”. A very strong sentiment, as it goes to show some people remain open minded toward bitcoin and what it means for our society as a whole.
Making the use of digital currency a fundamental right will elevate bitcoin’s legal status to new heights, even if it is just in Texas. It is rather intriguing to note the government feels they need to make a rule that allows people to use any medium of exchange they see fit. After all, governments can’t tell people what to do in the first place, as that is only an illusion. Everyone in the world is free to use whatever medium of exchange they like, even though some forms are more frowned upon than others.
Using bitcoin is permissionless, as it has always been. Since no one controls bitcoin, there is no one who can tell people when and where to use it or not use it. Although this proposal will make it official everyone can use bitcoin without repercussions in the state of Texas, it remains disturbing we need an official law to make that clear to people.
Then again, it is good to see some government officials take a positive attitude toward bitcoin and other cryptocurrencies. This news should be looked at as encouraging, even though it seems a bit pointless in the end. Since no one needs permission to use bitcoin, drafting a law of how no one needs permission to use bitcoin seems a bit unusual. That said, our society likes its rules and playbooks, so perhaps this proposal will be received as a positive development.
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