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Texas could create a digital currency backed by gold and silver if a proposal in the state’s Senate moves forward.
The law would allow the state to mint pure gold or silver coins based on weight and issue debit cards that have their value backed up by gold or silver, according to the Epoch Times.
The proposal would allow anyone in the world — not just Texans — to purchase gold or silver to start an account and use that for any legal purpose. The gold and silver would be held at the Texas Bullion Depository. As the value of that gold or silver rises, so does the spending power of the account holder.
