THE STATES WITH BITCOIN IN MIND, WHERE IS TEXAS HEADING ?

source

We all know that the intention of the ban is nowhere near for the states. At the same time, many institutions are located where the laws are favorable for companies to deal with crypto. For example #coinbase, #ftx, #gemini, #grayscale, and many more are pushing the crypto mania all across the country and the world altogether. USA has been upfront with crypto. BTC is the leading crypto that are well spread and most talked around the crypto sphere.

This is about to change with Texas in mind. Texas state is huge for a reason. As you know everything is big in Texas. October 8th, there will be a summit where many policy makers, business people are putting together to discuss the need for the states. It is the second state with the largest economy and the 9th in the world.

As you can see California is leading the way with New York and Florida. As you can see these four states do accept crypto business. I know there are other states pushing the crypto mania. Their economy is rather small compared to these four states but strong in ideas. Quite a few Senators from Texas will be there. Even the Governor likes the endeavor for crypto to take over the states. He states:

“Texas will be the crypto leader. Cryptocurrency is now coming to Texas grocery stores.”

This is well said knowing how fundamentals are freedom, privacy, security for all crypto holders. Usually the accolade between government and crypto will never be the true story for the end user. At least we can be sure many will find a way to adjust and be free using blockchain technology. At the end of the day regulations are the reason you see this proactive approach by many states. The end result will benefit the businesses at the forefront and then the end user will get the crumps.

source

While Texas has been making waves with crypto, Florida itself is not too far away. You might recall the big meeting in Miami this year where the Mayor wants to accept crypto. The approach in many states differ greatly from China. It is clearly a different style of government where each state can establish laws that can help them to grow economically. While China does not see individual freedom for its citizens in crypto, USA is not too far off this cliff. It is an abstract concept knowing the approach differ. Most of the exchanges use the US dollar around the world while you see a few use the Renminbi.

New York state has its challenge with crypto. This is Wall Street. #grayscale is finding ways to set base and grow its business within the confinement provided. #gemini is over there as well and they are moving quite well. #california is the place where crypto strive. Once #coinbase could call the state its home, but they are remote right now. #silvergate Bank is making it possible for transactions to continue for Coinbase, Kraken and other institutions that use their service. The efficiency of making money fast 24/7, thanks to crypto.

When you look at what could happen as the year goes by, US has more to gain with the growth of crypto than China. Maybe I could be way off for China with more inhabitants in the world, that should be a boost for them to propel crypto. It could be a fear of giving too much freedom where it is not understand as a right. Crypto in itself enlighten its users. Crypto is making possible for each holder to be respective and considerate of the environment. Crypto enables ownership.

Texas has a long way to go. Having a friendly crypto law, it will go a long way to bring crypto to all Texans. In the future the state wants Texans to be able to pay taxes with crypto. As you can see the approach is not severely about controlling your crypto. The minute you start using crypto, you are obligated to tell them how much you have in the future and pay taxes in your earning. This way everybody benefits in the crypto sphere.

Since crypto has one way to go, it makes sense for each state to find a way to give businesses a welcoming mat to grow their coffers. The end user will not see this approach the same way. At the end of the day, everyone wants to use their crypto the way they want. More bills are coming to place where all the banks in the state of Texas can custody cryptocurrency.

Trying to touch base with El Salvador making BTC legal tender, this crypto train is moving quite fast. Before you know it crypto is a pseudo legal tender already with regulation insight. Since crypto is not a threat for the US dollar yet, the two have been moving quite well while the US dollar remains another option to transact in crypto. Texas leadership will cascade through other states to grow in crypto businesses. I think other countries with similar GDP could decide to do what they did to promote crypto. Crypto knowledge is inevitable.
Do your best to stay connected.