It's been some time since we have seen such competition amongst states and nations on sector development and who will emerge as the winner is yet to be seen.
But we know China's Crypto ban has left a void in the sector with many US states early rushing to fill.
Miami has been driving significant advocacy and campaigns to secure Crypto start ups but Texas is the real leader in the US Crypto race.
Source
This week Texas will host its first ever Block Chain summit which is accepting registrations Here The Block Summit has a number of sector notable attendees consisting of the recently established Block Chain council that is made up of 70 members from a broad range of expertise.
But most notably is the attendance of high ranking Texas politicians Sentor Ted Cruz, Senator John Cornyn and the SEC commissioner Hester Peirce.
You can rest assured that this group wants to see Texas as the leading state and with the backing of the SEC commissioner, I'd say that's a bit of an advantage over other states.
A cram packed agenda for the event can be found Here
The event is tipped to be a states largest Block chain event held anywhere in the US to date.
Texas is making moves into the Block Chain sector as it perceives it to be a viable addition to its economy.
Texas is already a top 10 global economy in its own right outweighing many nations on its own Source and it isn't shying away from continuing to add new and emerging industries to its state.
The Texas Governor Greg Abbott has been meeting with the Bitcoin council to further drive policy and legislative changes that enable crypto and block chain adoption.
Source
Taking to Twitter the Governor stated that Texas was open for business relating to cryptocurrency as it has won the vote of confidence.
This comes as Crypto Kiosks are now operating in some Texas stores and there is a move to enable taxes and other items to be paid for in Cryptocurrency.
This follows a statement released in June that provided clarity on the position of the Texas Department of Banking giving authorisation of Crypto purchases.
Things are really starting to progress at a significant speed with Texas already updating legislation to enable legal transfers and payments with cryptocurrency and it has parachuted its state to leader in the sector.
Texas may have missed out on the silicon Valley boom but they aren't sitting back and watching Crypto escape their grasp.
Competition amongst US states will lead to some healthy debate and some good wins for the community.
Texas's GDP is almost on par with the entire Bitcoin market cap so as the state begins to battle for its citizens its got the money and the economic know how.
Interesting times a head.
Image sources provided, supplemented by Canva Pro Subscription. This is not financial advice and readers are urged to do their own research or access professional services
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I am wondering if it's a good idea to have the SEC showing up. At least I am a bit skeptical so I will wait to see what actually happens.
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Always good to have people onside rather than against, especially if they have the power to implement change.
Yes, Rick, I don't know, it looks fake.
But we'll have to wait and see how things are clarified.
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Miners getting banned by China might be the best thing to happen for crypto. Hard to see the US banning crypto if the miners pay their taxes.
Spot on! I can't wait as this will help BTC hit $100k alot sooner. The removal of cheap labour and power means a better distribution of wealth to workers in the industry and a bustling economy that works for investors and workers alike. 100k here it comes!
They see the future!
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Yes, this is wonderful, but the problem is that an old fox always knows his tricks, and politicians and cryptocurrencies don't get along very well.
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Great news. I'm still waiting for Texans to be allowed on Binance.
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I'm interested in hearing what comes out of this event overall and this particular session:
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