The bill includes the following excerpts:
- "...support for protecting individuals who code or develop on the Bitcoin network in accordance with Section 8, Article I, Texas Constitution..."
- "...individuals who mine Bitcoin in Texas will never be inhibited by any law or resolution that restricts the practice of securing the Bitcoin network for the safety of the virtual currency..."
- "...all Bitcoin miners are welcome to seek out any
forms of energy to help secure the Bitcoin network in the state of
- The individuals who own Bitcoin should be protected under Section 9, Article I, Texas Constitution, which states that "The people shall be secure in their persons, houses, papers and possessions, from all unreasonable seizures or searches."
- "...no citizen of Texas shall ever be deprived of their right to own Bitcoin and that all Bitcoin owners will be protected as they enjoy all the privileges associated with the cryptocurrency, including the immunity afforded by censorship-resistant spending of Bitcoin and the ability to store Bitcoin in an unhosted wallet without undue interference from any state agency..."
- "...those in the United States and the broader global network who work on Bitcoin coding, programming, and mining, shall know by this resolution that the Bitcoin economy is welcome in Texas, and that the Texas Legislature shall always seek to protect the rights of its citizens under the law and foster the growth and development of local businesses."
- "...all those in the broader community who choose to own Bitcoin as a manner of storing their wealth and transacting peer-to-peer with other law-abiding Texas citizens shall always feel free and safe in their ownership and use of Bitcoin in the state of Texas."
Per legislative process detailed by the state, the bill first has to go through the House. If approved, it will then go through the state's Senate, and finally, the Governor’s office.