Texas could become the first state in the nation to issue its own digital currency based on gold and silver.
The Texas Senate could vote on Senate Bill 2334 this week. A similar bill in the Texas House, House Bill 4903, did not advance.
If the Texas digital currency proposal becomes law, money could be spent with a debit card by people anywhere in the world, not just within Texas.
The measure would create an alternative to a federal digital dollar, an idea currently being considered by the federal government because of a directive by President Joe Biden.
Some conservatives have said they fear a federal digital dollar could be manipulated by the U.S. government and used to spy on account owners, possibly controlling how and when they can spend their money….