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Texas Recognizes Cryptocurrencies Under Its Commercial Law

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Thanks to the efforts of Texas’ Republican governor Gregg Abbott, a couple of bills that will help push for the adoption of cryptocurrencies and blockchain technology have been passed into law. 

“This is positive for crypto generally because Texas became the 4th U.S. state, behind Wyoming, Rhode Island and Nebraska, to clarify the commercial law status of these assets. This means parties to transactions have clarity regarding their legal rights and obligations, judges have a roadmap to adjudicate disputes, and lenders know they have an enforceable lien on the crypto pledged as collateral for collateralized loans,” former Wyoming Blockchain Task Force gubernatorial appointee Caitlin Long told Cointelegraph. 

Recently, an exodus of bitcoin miners found a new home in a few Republican-led states after getting booted out by China’s totalitarian government. The backward-thinking Chinese Communist Party imposed an aggressive crackdown on cryptocurrency mining, forcing the miners to find a safer place to continue their innovative practices.

Our leaders in government may not be united in their support for this new technology but it is great to know that a number of diligent GOP governors and senators are putting in a lot of effort to strengthen the blockchain and cryptocurrency industry.

The crypto competition between these Republican-governed states will be a tight one but since The Lonestar State is known for going upsize on everything, there is a huge chance that Texas will be leading the country in this technological race.

Hyland, a leading enterprise content management company, and will be providing strategic support for the Texas Blockchain Council on October 8.

“Hyland is excited to be part of the Texas Blockchain Summit, as the impact of the blockchain industry only continues to grow,” said Hyland Principal Advisor Natalie Smolenski.

“We are in a unique moment in the history of human societies. For the first time, we have a form of sound money that is not issued by any nation-state, and the experts scheduled to address these trends at the Texas Blockchain Summit will provide unique insight into what that means for the American people and business community, as well as American foreign policy,” Smolenski added. 

The summit which will take place in Austin next month, will feature prominent Republicans and proponents of blockchain and cryptocurrency tech. The likes of Wyoming Senator Cynthia Lummis, Ohio Congressman Warren Davidson, Texas State Representative Tan Parker and Texas State Senator Angela Paxton, to name a few, will be gracing the event to share their insights and knowledge on the subject matter.

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Religious liberty is one of America’s most important freedoms

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Religious liberty, the freedom to practice one’s faith, is a vital component of American society. Our founding fathers ensured generations to come that our great nation will always respect every individual’s right to adhere to a certain belief. 

“Although no one in America is forced to go to church, we have had more churchgoers in our history than any nation in the world. Religious liberty – meaning we can chose any faith or none – was a wild concept when the Founders decided to try it 250 years ago,” Eric Metaxas, author of the new book, “Is Atheism Dead?” wrote in his recent opinion piece.

“So it was America’s founders who uniquely understood that religious liberty was the key to all other liberties. Liberty – or self-government – required a virtuous people, which was usually the result of freely held faith. Those who answered to a “higher power” didn’t need government to coerce them into doing the right thing. They did it on their own,” Metaxas added.

We are said to be more fortunate than those who are living under extreme Sharia Law in countries such as Saudi Arabia and Afghanistan, where other faiths are totally outlawed. One would be hard pressed to find a single catholic church in the city of Riyadh as the only accepted religion there is Islam. Even though the prophet Muhammad taught cultural and religious tolerance, some of his followers have become too austere in their interpretation of the Holy Quran and mandates that only one religion be allowed in their respective domains.

The United States constitution however is vastly different from the authoritarian laws and principles of other countries as it grants total freedom to exercise one’s belief, as long as it corresponds with the basic tenets of morality. 

On the other hand, Muslims and Buddhists in China are suffering under the repressive atheist communist regime, as the people continue to face the assault on their religious liberties. Non-believers should understand that embracing atheism or agnosticism is in itself, a personal freedom that can only thrive under a legitimate democracy.

“And while a free nation cannot and should not try to coerce atheists toward belief, people of faith, while we still have a voice, have an urgent duty to alert our fellow citizens that, although religious freedom protects atheists, atheism itself nonetheless has an inherent and – alas – well-established tendency to work not only against religious freedom, but against all freedoms,” Metaxas said.

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Rep. Drew Ferguson blasts the Dems for bank account surveillance plan

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In a recent press conference held by House Republicans, Georgia congressman and chief deputy whip Drew Ferguson lambasted the Biden administration for their ineffective economic and financial policies. 

Ferguson, who is a member of the Committee on Ways and Means, put a spotlight on the government’s proposal to grant the IRS unlimited power to conduct surveillance on bank accounts with at least $600 worth of annual deposits.

“Probably the most egregious provision in the Democrats tax and spend plan, the largest in American history, is a provision that would allow the IRS to spy on your bank accounts. To put that in perspective, if you spent $28 a day, you would get caught up in the IRS drag net. $28 a day, and this is wrong,” Ferguson stated.

“Americans do not want the IRS looking in their bank account and the federal government has no business looking at your private bank accounts and your money,” Ferguson stressed.

The draconian proposal sparked widespread outrage among the public as the topic went viral on social media and various community forum boards. Republican politicians strongly resisted and swiftly introduced the Prohibiting IRS Financial Surveillance Act in an attempt to block the repressive agenda that is being put in motion by the Biden administration.

“So we introduced a bill to prevent this treasury secretary from implementing rules that would allow the IRS to tap local banks, credit unions, and other entities to spy on your bank accounts,” Ferguson said.

“I can’t imagine a single American, Republican, Democrat, independent, rich, poor that wants the IRS looking into their bank account and for good reason. If you look at the recent history of the organization, they have failed to gain the trust of the American people,” he added.

The Democratic Party’s plan to violate the people’s privacies, clearly resembles the laws that are being enforced by some of the world’s most oppressive totalitarian governments. There is no logical explanation behind their proposal, save for the glaring fact that liberals are simply hungry for more power.

“The Democrats want control. They want control of your life. They want control of your finances. They want control of everything. And we’re here to stand up against that, to push back, and we’re going to continue to raise awareness about this. It is wrong, we think it’s unconstitutional,” Ferguson said.

“It is your private business. It is not the business of the IRS. So with that, we stand committed to blocking this horrible provision and to make sure that we maintain freedom in America’s lives,” he reiterated.

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Rand Paul thinks crypto could become the reserve currency of the world

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When one of the most severe global economic meltdowns hit the world more than a decade ago, the United States was at the forefront of the uphill struggle. The 2007-2008 financial crisis was often compared by experts to the Great Depression in terms of the magnitude of damage.

The catastrophe subsequently put world governments – including America – on the hot seat.  Financial experts and the entire populace started to question the capability of our leaders to handle the fate of our economies. After all, we are the ones who put these public servants in power, giving us every right to demand what’s best for the future of our families.

Fuelled by the frustrating financial system, Bitcoin was developed in 2008 by a certain Satoshi Nakamoto, as a solution for the problems created by unreliable governments and untrustworthy central banks. “Satoshi Nakamoto” is an alias used by a person or possibly a group of people involved in the creation of the world’s first cryptocurrency. The secretive nature of Bitcoin’s origins is a reflection of the decentralized financial system that it wants to promulgate.

Today, America is at the cusp of autocracy as Biden and his cohorts continue to propose harsh policies that mirror the ones that Xi Jinping and the communist party has put in place in China. While the Democratic Party constantly attempts to utilize the “tax the rich” card, the Federal Reserve just keeps on printing cash like there’s no tomorrow. Soon we will all be caught in a tough financial predicament with the continued devaluation of our hard-earned cash. For some, a hedge such as a digital asset, is the only viable option to protect one’s wealth from further depreciation.

Recently, GOP Sen. Rand Paul expressed his bewilderment towards the vigorous growth of cryptocurrencies. The Kentucky senator believes that virtual coins like Bitcoin and Ethereum can become global reserve currencies.

“I’ve started to question now whether or not cryptocurrency could actually become the reserve currency of the world as more and more people lose confidence in government,” Paul said in a recent interview on HBO.

“I’ve been amazed at the growth of it and I’ve always been, you know, more a person who believed that our currency should be backed by something of real value like gold or silver or commodities, and always was wondering well crypto is not backed by anything either,” Paul continued.

“But here’s what I’ve started to believe now is that the government currencies are so unreliable, they’re also fiat currencies, they’re not backed by anything. The dollar has been more stable than most other countries and so it is the reserve currency,” he added.

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