Governor of Texas, Greg Abbott of CoinEdition

• The governor of Texas claims it is good for the power grid.
• Texas wants to become the center of Bitcoin promotion in the country.
• The state promotes and promotes Bitcoin and blockchain for innovation, including the revision and adoption of regulatory laws.

The governor of Texas, Greg Abbott, recently expressed his support for Bitcoin. In a clip posted by Bitcoin Information’s Twitter account, Documenting Bitcoin, Abbott shared that Texas wants to be the center of all Bitcoin action.

Governor of Texas, “#Bitcoin is good for the power grid” “We promote #bitcoin, we promote it, and we provide a platform for it. #Bitcoin is leading innovation in the world” pic.twitter.com/bnoqrvoXiw

— Documenting Bitcoin (@DocumentingBTC) November 26, 2022

The governor said that the state of Texas sees the future of Bitcoin and what it means for the entire world. Abbott adds,

Texas wants to be at the center of it.

He continues that Texas promotes and promotes Bitcoin while trying to provide a platform for those involved in the industry, including blockchain and Bitcoin, to ensure they have a place to come to.

Texas wants to create a platform free of the friction that comes with higher regulation to make it easy to do business and also foster innovation. He plans to continue promoting “cutting edge innovation in the world right now,” which is Bitcoin and blockchain.

When asked by an interviewer what Abbott has done to allow Texas to be a Bitcoin country, he replies that in addition to being open to the technology, Texas has passed laws to allow easy operations regarding Bitcoin.

In addition, Abbott shares that Texas has created a task force that will focus on the type of legislation that will make the state more welcoming to cryptocurrency. Also, Texas does not want to be over-regulatory and identifies itself as anti-regulatory.

However, the state aims to provide an infrastructure where blockchain and Bitcoin will be able to succeed. He informs that Texas has an open and independent power grid, unlike most states in the country that have a highly regulated power structure such as a single utility program in the state.

In addition, Texas residents have the freedom to purchase electricity from a local electricity supplier, which creates an opportunity for others to cut back on electricity when there is a high demand for electricity during, for example, a thunderstorm.

A citizen involved in Bitcoin will not incur a significant loss due to a lack of electricity, compared to a power-dependent industry such as a hospital. Therefore, Abbitt claims that Bitcoin is good for the power grid.

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