Texas Makes Legal Framework For Crypto

Since a lot of crypto enthusiasts are probably focusing on Miami and the crypto convention down there, Texas had just put forth their rules and regulation regarding crypto.

Current Texas governor Greg Abbott is praising blockchain technology and how the state must get involved in it and cryptocurrency.

Texas Tech Wave

Investopia Summarizing Tech Companies Leaving Silicon Valley for Texas and Florida

Tesla was one of the most recent companies decidedly relocating to Texas which is joining the likes of Hewett Packard and Oracle. The strict regulations, high taxes, and expensive housing are elements to blame for tech companies leaving Silicon Valley. This in turn has given states like Texas a place where tech companies can thrive relative to California. It would not be a surprise that governor Abbott is aware of the benefits of blockchain and crypto if it was not for the droves of tech savvy people relocating to Texas and the plenty more to follow.

China Miners Relocating to Texas?

Not only with governor's Abbott support on crypto the Chinese is planning to relocate or start mining facilities in Texas. North America prior to China's government announcing its ban of crypto had around 11% of the total BTC mining hash rate and it has climbed since with Texas being a beneficiary. Texas is currently producing 25% of its electricity with green resources such as solar and wind. Such environmentally friendly source of energy is enticing mining companies to start their businesses in Texas.

In addition Texas after encountering recent snow freeze earlier this year has established more infrastructure to supply power to its customers. In turn this means the delivery of electricity to customers in Texas have been shorten and cheaper.

Conclusions

Texas is home to gas and oil industries. Now booming in energy production and moving into a new century hoping to lead in the latest cutting edge technologies. It has been booming with many incentives to entice even tech giants to relocate to the state and establish headquarters there. On top of all that Texas government is bullish and supportive of crypto unlike federal government or foreign government like China. All this appears to be a recipe for success. In due time we maybe looking back thinking this was Texas's booming years for cryptocurrency.

Yahoo's Source Article on Texas Support for Crypto.

None of this is cryptocurrency investment advice. This is for entertainment purposes only. Thanks for reading.