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Bill

SJR 55

Proposing a constitutional amendment relating to the right to own, hold, and use a mutually agreed upon medium of exchange.

89th Legislature (2025) Introduced by Tan Parker

Texas proposes constitutional amendment protecting citizens' right to use alternative currencies and payment mediums beyond government-issued money.

Referred to Business & Commerce
#currency&currencyexchange(s0335) #financial--general(i0365) #resolutions--constitutionalamendments(i0661)
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Bill Summary · SJR 55

Legislative bill overview

SJR 55 proposes a constitutional amendment to the Texas Constitution that would explicitly protect the right of individuals to own, hold, and use mutually agreed upon mediums of exchange. This would constitutionally enshrine the ability to transact using alternative currencies or payment methods beyond government-issued money, potentially including cryptocurrencies, barter systems, or other exchange mechanisms.

Why is this important

This amendment addresses growing debates about financial autonomy and whether states can protect alternative payment systems from federal restrictions. It could have significant implications for cryptocurrency adoption, local currencies, and financial innovation in Texas. The outcome could influence how Texas citizens interact with emerging payment technologies and alternative financial systems.

Potential points of contention

  • Federal authority conflicts: The amendment may clash with federal monetary policy authority and regulation of currency, raising constitutional questions about state versus federal power over money
  • Cryptocurrency regulation ambiguity: Unclear whether this protects crypto transactions from state/federal taxation, KYC requirements, or anti-money laundering regulations, creating enforcement tensions
  • Broad language scope: "Mutually agreed upon medium of exchange" is vague and could encompass systems that create regulatory, tax compliance, or consumer protection concerns that the state currently manages

Compiled from official sources — confirm details with the bill’s official record.

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