Last month, the Texas House and Senate introduced bills for the formation of a
state-issued, gold-backed digital legal tender. If passed, this proposed legislation
would offer a means for people to conduct commerce with sound currency, in
complete privacy, and thereby destabilize the Federal Reserve's money
monopoly, and provide a feasible substitute to their upcoming central bank digital
currency (CBDC).
On March 10, Sen. Bryan Hughes (R) presented Senate Bill 2334 (SB2334) and
Rep. Mark Dorazio (R) unveiling a corresponding House Bill 4903 (HB4903) on
the same day. The proposed legislation mandates the state comptroller to
establish a digital currency wholly supported by gold and entirely exchangeable
for cash or gold. Additionally, the comptroller would be tasked with devising a
mechanism for the utilization of this gold-backed digital legal tender in everyday
transactions.