Texas Senators propose bill to create a state-issued, gold-backed digital currency (CBDC)

A bill to be ENTITLED by the State of Texas is amended by adding Chapter 404A to read as follows: "DIGITAL Gold CURRENCY" "Digital" means the digital gold currency established under this particular chapter.

Highlights

• A BILL to be ENTITLED to establish a digital currency backed by gold; a bill to be approved by the state of Texas.
• Subtitle A, Title 4, Government Code, is amended by adding Chapter 404A to read as follows: “DIGITAL Gold CURRENCY” “Digital” means the digital gold currency established under this particular chapter.
• The comptroller has all authority necessary to enter into contracts to administer this chapter and fulfill the purposes of this chapter.
• The trustee may hold in trust on the behalf of the digital currency holders all gold purchased to back the digitalwallet.currency.
• The trustee shall maintain enough gold to provide for the.

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