Texas makes gold and silver legal tender after the approval of the ruler star-news.press/wp

Some Texas population actually expresses doubts about a recently passed law that recognizes gold and silver as a legal tender in the state, as well as “create a coefficient” based on precious metals.

On Sunday x, the governor of Texas Greg Abbott Declare It was the draft law of the House of Representatives 1056 in the law after its approval in the House of Representatives and the Senate. The bill, is expected to be valid on May 1, 2027, Adjust The state government law to recognize gold and silver as a legal tendency and the population for use in daily transactions based on the specific value of the financial observer at that time.

Abbott referred to a condition from the United States constitution that explains the absence of a state “making anything but a golden and silver currency in payment of debt”, although the law will not prohibit Federal Reserve notes or other American currency to use it as a legal tendency in Texas. Also, the law will not ask anyone to accept gold or silver “to pay debt, deposit, or for any other purpose.”

During the reign of the governor of Texas and the legislative legislative body, the Republican government has moved forward with some bills that suggest the adoption of cryptocurrencies such as Bitcoin (BTC). On the same day, the House of Representatives Law 1056 in the law signed, ABBOTT approved legislation to create the state’s BTC strategic reserve.

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From gold to paper, return to gold?

The United States was outside the gold standard for daily local transactions Since 1933When President Franklin de Roosevelt signed an executive order asking people to return a “golden currency, gold bars, and golden certificates” to the Federal Reserve. Although individual countries such as Texas explore the adoption of different assets, they are prohibited from issuing notes and coins under the constitution.

Its news means Proposal The “Creation of a Currency Currency” can allow Texas to identify the digital or silver digital currency as a legal tender. However, some population questioned the previous attempts by the legislative body to issue similar legislation, citing fears of retailers.

“How will the retail seller protect himself and be able to make sure that the gold or silver currency is authentic, not fake?” He said Reddit the_shotist user in response to the proposed 2015 draft law, adding: “It seems that there are many moving parts here that must be calculated to make this applicable.”

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Many US states already recognize precious minerals such as gold as a legal tendency, but do not require retailers to accept them as payment. In some states, companies in some states accept golden notes called “Goldbacks” as a payment, although they are not qualified as a legal tendency supported by the state or the federal government.

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