Texas cannot use a digital currency

On the official website of the Texas legislature, it says that on March 8, a bill was submitted that obliges citizens to identify themselves when using digital currencies.
In the text of the bill there are definitions of “digital currencies”, “digital wallets”, “distributed registries”, and also “VIDC” – “digital currencies that allow you to find out the true data about the identity of the sender and the recipient before someone gets them access to another person’s digital wallet. ”
According to the bill, before accepting a payment in digital currency, the recipient must confirm the identity of the sender of the payment if the latter does not use VIDC.

In addition, the proposed rules say:
“The state of Texas cannot use a digital currency that doesn’t confirm the identity of [VIDC] users.”
The bill involves working together on the implementation of VIDC several departments of the State of Texas and the Council on Government Securities.
This approach will allow us to distinguish VIDC from other digital currencies, train law enforcement officers and promote the use of such cryptocurrency in general. The bill specifies how to implement these guidelines, and states that the aforementioned departments should adopt rules to implement these guidelines.
In 2018, the State of Texas issued 16 orders in connection with suspicions of cryptocurrency fraud. In February, the state securities regulator announced that he had reached an agreement with four cryptocurrency companies that were accused of selling unregistered securities.
Recently, the Russian Duma Committee on Financial Markets also announced that it is considering the possibility of introducing mandatory procedures for identifying users of cryptocurrencies.


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