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Cryptocurrency wins votes of confidence from Gov. Abbott, Texas Department of Banking


Just because banks can take on this new role, doesn’t mean they all will. Adams said banks need to assess if they have the proper risk management to do so.
The clarification of the interpretation of Texas law comes shortly after Texas Gov. Greg Abbott signed into law the “Virtual Currency Bill,” recognizing the legal status of virtual currencies. Texas became the second state after Wyoming to recognize blockchain and cryptocurrency in its Uniform Commercial Code, which governs commercial transactions.
“Blockchain is a booming industry that Texas needs to be involved in. I just signed a law for Texas to create a master plan for expanding the blockchain industry in Texas,” Abbott tweeted out last week. ....

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