Texas Department of Banking Eyes on Stablecoin

Texas Department of Banking Eyes on Stablecoin

The Texas Department of Banking has shared a supervisory memorandum on  which unveil their vision to grant the license on stablecoin under the Texas Money Services. Banking Commissioner has described the cryptocurrency as an“‘electronic medium of exchange’ and commented, A unit of cryptocurrency does not represent a claim on a commodity and is not convertible by law.”

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