The Texas Legislature has proposed the Digital Dollar Development Project, which would be issued by the Federal Reserve.
However, local authorities are skeptical about this project due to the potential for manipulation.
As an alternative, a bill has been introduced by Senator Brian Hughes and Texas House Representative Mark Dorazio to create a stablecoin that would be backed by a precious metal.
This token would be able to be used not only as a means of payment, but also to accumulate capital, and would be guaranteed by the Texas government.
The bill is currently being heard in the relevant Committee of the State Legislature, and if approved, it will be sent to the regional Senate and the House of Representatives for final approval.
