Texas Lawmakers Introduce Bill Proposing to Establish a Gold-Backed Digital Currency

Two Republican lawmakers from Texas, senator Bryan Hughes and representative Mark Dorazio, have introduced legislation to create a gold-backed digital currency that could be enacted by the state legislature. The policymakers believe that this currency could greatly benefit the Lone Star State and, as an alternative digital currency, it could provide Texas residents with the ability to circumvent a central bank digital currency (CBDC).

S.B. No. 2334 Introduces the Establishment of a Digital Currency Backed by Gold in Texas

In recent times, U.S. lawmakers have been discussing the reimposition of the gold standard, and just recently, Georgia representative Marjorie Taylor Greene advocated for its return. Specific bureaucrats have also been vehemently against the creation of a central bank digital currency (CBDC), and politicians such as Ted Cruz, Ron DeSantis, Robert F. Kennedy Jr.,