Texas Representative Wants to Ban the Anonymous Use of Cryptocurrency

Texas could be the first state in the U.S. to ban the anonymous use of cryptocurrencies. Representative Phil Stephenson, a staunch Texas Republican and certified public accountant (CPA), wants residents in the state to verify their identities if they choose to use digital currencies. Stephenson’s H.B. No. 4371 says that if the bill becomes law it will take effect on Sept. 1, 2019. Section 662.02 details that before accepting digital currency payment, a person must verify the identity of the sender. Oddly enough the person is “not required to verify the identity of a person sending payment if the payment is sent by a verified identity digital currency.”

Sign In or Register to comment.