I am writing this up because I think it’s a big deal. Over the past few months, Texas has been in the headlines quite a bit. We have been consistently ranked as one of the best states in the country when it comes to quality of life, and it’s no wonder: Texas has been the economic engine of the country for the past few decades.
Texas regulators have approved a charter for a Texas-chartered bank that will be allowed to hold and exchange bitcoin and other cryptocurrencies. The firm, called Crypto Currency Exchange (CCX), will be the first bank in the state to hold cryptocurrencies like bitcoin, ethereum and litecoin.
Following a change in state law, Texas-chartered banks will now be able to accept Bitcoin, and other digital currencies, as a form of payment. The official Texas Department of Banking (DOB) website has released a statement confirming that Texas state-chartered banks are now permitted to accept digital currency as a form of payment, including Bitcoin. According to the DOB statement: “Some Texas banks are already operating in a way that allows them to accept virtual currency. Under Texas Banking Code, Chapter 34, Section 3.103(h), a state-chartered bank may receive funds from a person acting as an agent or cashier for the customer in digital funds. Previously, state-chartered banks were not able to accept payment in
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