### Texas lawmakers have proposed a bill to create a gold-backed digital currency, with Senator Bryan Huges and Representative Mark Dorazio introducing matching bills to their respective houses.

In order to maintain full backing of the trust, the proposed bills would mandate the trustee to hold sufficient gold reserves to facilitate the redemption of all outstanding units of the digital currency in gold or money.



The sponsors have also taken steps to prevent state legislators from using the trust for their own purposes by including provisions that prohibit the appropriation of funds obtained through the purchase of the digital currency, gold reserves held in trust, and profits generated from the sale of redeemed gold.



The bill raises intriguing questions about the future of federalism in the US. For instance, would the Treasury Department allow Texas to create its own digital currency, and what effect would it have on the national economy? The proposal is an innovative approach to bring back the gold standard and its benefits.



The use of blockchain technology to create a digital currency backed by gold could offer greater security and stability than traditional currencies. However, it remains to be seen whether the bill will become law and how it will impact the financial landscape of Texas and the US as a whole.

Texas lawmakers have proposed a bill to create a gold-backed digital currency, with Senator Bryan Huges and Representative Mark Dorazio introducing matching bills to their respective houses.

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