ZeroHedge reported:
On May 2, a Texas House committee passed a bill to create 100% reserve gold and silver-backed transactional currencies.
Rep. Mark Dorazio (R) introduced HB4903 on March 10 and it has since garnered a bipartisan coalition of 42 cosponsors. The legislation would require the state comptroller to establish and provide for the issuance of gold and silver specie and also establish digital currencies that are 100% backed by gold and silver, and 100% redeemable in cash, gold, or silver.
There is a Paxos issued cryptocurrency backed by gold. It's called Pax Gold.
Carlyle Group co-founder David Rubenstein invested in Paxos through his family office Declaration Partners. He'd love Texas legislators' help in marketing Paxos' Pax Gold.
