Texas Governor Supports Bitcoin Development

Greg Abbott, Governor of Texas in the United States, said that he sees value in the development of bitcoin and believes that the flagship cryptocurrency is of great importance for the whole world and his state in particular. In addition, he wants Texas to be the center of Bitcoin development.

To further his ambitions, Greg Abbott called on bitcoin companies to set up stores in Texas and promised to encourage this kind of business. According to Abbott, entrepreneurs who want to open bitcoin stores will not face regulatory controversy, and Greg's patronage will save them from unforeseen business problems.

According to the governor of Texas, this state is really different from others that express their support for the main cryptocurrency. Greg Abbott stated that a working group had previously been set up that focused on improving existing laws regarding the adoption of bitcoin. In his opinion, it is Texas that should become more attractive in terms of the development of various bitcoin projects.

Abbott also said that Texas opposes the regulation seen elsewhere in America:

We don't want over-regulation, we kind of oppose regulation. We are committed to providing the infrastructure to make sure blockchain and bitcoin can succeed.

Earlier, experts from the financial analytical company SmartAsset conducted a research study in which they studied the issue of the number of states in America that show a friendly interest in the direction of the flagship cryptocurrency. The state of New Jersey took the first place in terms of loyalty to bitcoin in the United States, Florida was in second place. The third place was taken by California and only in the fourth position was the state of Texas.

In order for the study to be objective and productive, analysts paid special attention to two main criteria. Among them were the convenience of legislation towards the development of cryptocurrencies, as well as the availability of jobs associated with cryptocurrency companies.

The adoption of the flagship crypto asset at the legislative level, apparently, is just a matter of time. In October 2021, the authorities of El Salvador announced that their country had become the first state in the world to accept bitcoin as the state currency. At the same time, Nayib Bukele, President of El Salvador, announced the mass purchase of bitcoin. A year later, BTC lost significantly in value and many people spoke negatively about Bukele's political direction. The latter, in turn, said that he would buy one BTC every day and expect the rise of the main cryptocurrency.

The authorities of El Salvador also spoke about the creation of the National Bitcoin Office, which will deal with issues related to the cryptocurrency market. The office can help bitcoin entrepreneurs develop crypto-currency activities in their country. In addition, countries that want to cooperate with El Salvador in this direction will be able to contact the National Bitcoin Office for advice. You can read more about this in our material by clicking on this link .

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