Ohio lawmakers have faced an obstacle in the adoption of Bitcoin by issuing the bans on Bitcoin-For-Alcohol sales in their state.
The Texas Department of Banking (DOB) issued a guidance for businesses that says that companies operating with digital currency do not require state money transmitting licenses.
Being one of the larger states in America, Texas, has been a leader in the progress of Bitcoin adoption. This year in March, the Texas Bitcoin Conference held in Austin was really successful.
The Texas Alcoholic Beverage Commission finally replied with a clarification to the persistent inquiries by Sheldon Weisfeld, Texas Bitcoiner and a founding member of the Texas Coinitiative.
Moreover, Mr. Weisfeld is the CEO of CoinVault ATM which has a bi-directional Bitcoin ATM at Central Texas Gun Works. Bitcoin has becoming more and more popular all over the world, and such a wide bitcoin adoption has made a reflection on the Bitcoin price.
TABC Press Release
The press release from CNN stated:
“On June 2nd 2014 the Texas Alcoholic Beverage Commission (TABC) has replied to the inquiries of Texas Bitcoiner Sheldon Weisfeld, the CEO of CoinVault ATM and a founding member of the Texas Coinitiative, regarding the situation with Bitcoin-For-Alcohol sales at Texas businesses under the supervision of the TABC. Even though the federal Alcohol and Tobacco Trade Bureau has agreed on Bitcoin-For-Alcohol sales, there are still a few state agencies that have a negative reaction to this situation. As a result, interested companies in California and Texas, have tried to clarify the legal status of Bitcoin-For-Alcohol sales.
The main goal of the TABC is to control each step in the alcoholic beverage industry of Texas. It’s likely that in the near future after the change in regulations, several alcohol-serving businesses will announce their acceptance of Bitcoin.”
Carolyn Beck, TABC Director of Communications and Governmental Relations said:
“Unlike Ohio state law, the Texas Alcoholic Beverage Code does not require the customer to pay in money when purchasing an alcoholic beverage from a TABC-licensed establishment. Specifically, I am talking about a retailer, winery, brewery or distillery selling to the ultimate consumer. The acceptance of digital currency such as Bitcoin from a consumer in this situation is the establishment’s choice.”
About Texas Coinitiative
The Texas Coinitiative is a non-profit organization that consists of Bitcoin enthusiasts promoting the adoption of Bitcoin.
The main goal of this organization is to inform, educate and assist businesses and individuals on the acceptance of cryptocurrency while also expanding the use of the new technology.
Houston Bitcoin Alley and a Texas Bitcoin Embassy in Houston, one of the largest cities in the United States, are planned to be established.