At present, many major countries in the world still hold a negative attitude towards the supervision of virtual currencies, especially the US government's regulatory attitude towards the crypto industry is the most influential country. Any disturbance will cause a sharp rise and fall.

In this context, the official website of the Texas Legislature shows that the State House of Representatives unanimously passed a "Virtual Currency Bill" that recognizes the legal status of virtual currencies.

The governor of Texas, Greg Abbott, also tweeted last week that he has signed a bill on cryptocurrency, placing cryptocurrency under the Uniform Commercial Code of Texas as a secure transaction. He also believes that "blockchain is a booming industry that Texas needs to participate in."

It is worth mentioning that this is not a new law, but the United States has determined that existing laws allow this.

In addition, the Texas Department of Banking also issued an industry notice last Thursday, announcing that state chartered banks know that they have the right to provide custody or custody services for virtual currencies. As of the end of February, 216 Texas chartered banks were subject to banking supervision.

It is reported that this legislation provides a formal definition of the term "cryptocurrency" and outlines the guidelines for cryptocurrency companies in the state. It also determines when a person obtains the right to cryptocurrency and when he has control of the currency. right.

Global Trends learned that Bitcoin has been in a state of volatility since it dropped to $40,000 last month, and there is still no sign of regaining its historical glory.
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