Could Texas become the new El Salvador?

Jay Crypto

Blogger

After El Salvador announced that Bitcoin is now, officially, a legal tender, it appears that there are way more fans of this decision across the world than anybody believed. And a lot of them are in Texas, apparently, as a recent poll reveals that almost 11 million Texans would support legislation making cryptocurrencies legal in their state.

A report issued by Newsweek on September 20, citing a poll that surveyed more than 9,700 voters across ten U.S. states, suggests that 37% of residents in Texas would vote in favor of a measure making digital assets legal.

Texas, already a crypto-friendly state

The results of this poll are coming prior to two pieces of legislation related to cryptocurrencies which are already in effect in Texas!

To be more specific, we’re talking about House Bills 1576 and 4474, which established a blockchain working group, while also amending the state’s Uniform Commerical Code, in an attempt to recognize digital assets under commercial law.

It is also worth adding that Texas is a very attractive spot for crypto mining farms, mostly because of its sources of renewable energy and loosely regulated power grid.

Still room for improvement

Despite many conditions favoring a larger adoption of cryptocurrencies – or at least Bitcoin – in Texas, there’s still a lot of work to be done regarding this. Not many retail businesses accept BTC for payments, while residents are still hesitant towards adoption.

“I’m uncomfortable with any non-physical currency being the only currency,” a Reddit user from Texas wrote. “I realize this is a movement under way to eliminate cash, mainly for purposes of tracking and taxation. I’m a bit too much of an old pirate to be okay with that.”

Texas is currently third on a list of “most crypto ready” states, after California and New Jersey, where over 2,300 crypto ATMs were installed so far.