AUSTIN, Texas—Republican Texas House of Representatives member Phil Stephenson has introduced a bill in the state legislature to ban the anonymous use of crypto.
The bill would require residents of the U.S state of Texas to identify themselves if they wish to use cryptos, Smartereum reported.
“The bill (H.B. No. 4371) details that users who transact (send and receive) digital tokens must be known. However, if a user decides to use a ‘verified identity cryptocurrency,’ this means they do not have to submit a verification to the state of Texas,” Smartereum explained.