Texas lawmakers propose to de-anonymize cryptocurrency operations. The initiative was made by a member of the House of Representatives and Republican Phil Stevenson, according to BTC Wires.
The draft law obliges the recipient of a digital currency to confirm the identity of the sender. The procedure will be optional only when using a “digital currency that provides confirmation of the identity of the sender.”
Responsible for the definition of cryptocurrency, traded within the legal framework, the legislator proposes to appoint a Banking Department, the Commission on Credit Unions, the Department of Public Security and the State Council on Securities.
According to Stevenson, his proposal will help improve the financial situation of Texas.
If approved, the regulatory act will enter into force on September 1, 2019.
The crypto community met the initiative negatively. So, the co-founder of Athena Blockchain, Andrew Hinkes, considered that the bill could hinder the use of cryptocurrencies, and also expressed doubts about the competence of departments.