Fort Worth Texas City Council to Vote on Pilot That Would Allow City to Mine Bitcoin

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Fort Worth Texas City Council to Vote on Pilot That Would Allow City to Mine Bitcoin For Angel Di Matteo @shadowargel

While the pilot is quite small itself, if passed it could set a big precedent for Fort Worth as a friendly city for cryptocurrency mining in the state of Texas.

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Fort Worth, a city in the North Texas area, will hold a vote in its municipal Council to pass a resolution allowing them to mine Bitcoin through duly registered entities.

Fort Worth will vote to operate miners Bitcoin

According to reports submitted by the municipal Councilthe vote aims to establish a position regarding the fact of receiving the donation of some three crypto mining equipment facilitated by the Blockchain Council of Texasa non-profit organization that seeks to promote the adoption of cryptocurrencies and their underlying technology at the state level.

In this regard, the municipal Council from Fort Worth wrote:

“The City Council wants the city to be a leader in the local government sector and a jurisdiction…in the Industry by welcoming and encouraging the growth of Blockchain and cryptocurrency technology companies in Fort Worth.”

The three pieces of equipment in question total a global value close to USD $2,100, and it is expected that they will be used in state entities as part of a pilot project, which will be reviewed in the following six months to see the benefits generated.

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Big Implications for Texas

Beyond the fact in question, the reading given by analysts and enthusiasts is that if the vote yields positive results, this will be a great advance for Texas in general, since it would have the first local city where mining is directly promoted by state agencies. , in addition to being awarded as a locality “Crypto-Friendly”.

The resolution explains that once the pilot is over, if it is not desired to continue mining cryptocurrencies, the equipment will be returned to the Blockchain Council of Texas. However, the emphasis behind this proposal is to encourage the perspective that the town poses benefits for those interested in carrying out crypto mining activities.

Let’s keep in mind that in 2021, a bill was passed in Texas to update the Commercial Code managed by the state. Here some changes were introduced and a definition for virtual currencies was presented. The creation of a working group with 16 members to examine the potential benefits of blockchain for the industry.

For now, the municipal Council of Fort Worth is preparing to vote on this new resolution tomorrow. It remains to wait and see the results, as well as the possible repercussions of the same for the sector at the local level.

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Source: Decrypt, TheBlockCrypto

Angel Di Matteo version / DailyBitcoin

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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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