According to a recent poll, as many as 10.8 million Texans may vote in favour of legislation making cryptocurrencies legal in the upcoming election, showing they may as well want to follow in the footstep of El Salvador.
According to a Newsweek study conducted among more than 9,700 eligible voters in ten U.S. states on Sept. 20, 37% of Texas people would support a ballot measure to legalize cryptocurrency, while 42% would support crypto-friendly legislation comparable to Wyoming’s.
Texas, which has a population of around 29 million people, might have more than 10 million residents supporting cryptocurrency adoption by 2021.
The poll was conducted by Redfield & Wilton Strategies in the United Kingdom between Aug. 20 and 24, just before two pieces of crypto law went into force in Texas.
House Bills 1576 and 4474 establish a blockchain working group and change the state’s Uniform Commercial Code to recognize cryptocurrencies as legal tender, respectively.
While Texas is becoming a crypto mining hotspot due to its renewable energy sources and loosely regulated power grid, not all retail shops accept Bitcoin (BTC) as a form of payment.
H-E-B, a prominent grocery chain, announced in June that it will be hosting crypto ATM machines from Coin Cloud, although some people appear to be wary of larger steps toward adoption.
LordPimpernel, a Texan and Redditor, remarked, “I’m concerned with any non-physical cash being the only currency.”
“I am aware that there is a movement on to abolish currency, primarily for tracking and taxes purposes. I’m a little too much of a grizzled old pirate to accept that.”
California is one of the “most crypto ready” states in the United States. Texas, however, ranked third behind New Jersey in terms of crypto ATMs (about 2,396 according to Crypto Head) and proposed pro-crypto legislation.
H.B. 2199, together with House Bills 1576 and 4474, was passed by the Texas House of Representatives in May before being taken off the Senate calendar. The measure will look into the formation of a legislator-citizen digital identity workgroup.
“If a party wants to catch [crypto-interested voters], it needs act quickly—not simply to beat the other party to the punch, but also to avoid laws that would be difficult to undo if implemented,” said Louisa Idel, head of insights at Redfield & Wilton.
