Debate on legalizing sports betting with cryptocurrency in Texas

Texas lawmakers are considering an initiative aimed at legalizing sports betting using cryptocurrency. The proposal envisions creating a legal framework that would allow digital platforms to accept cryptocurrency as a means of payment for bets, while ensuring compliance with consumer protection requirements and measures to prevent illegal activities.

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Supporters argue that legalizing cryptocurrency-based betting could boost the growth of tech and sports startups, attract investment into the sector, and increase tax revenues. Opponents voice concerns about money laundering risks, insufficient player protection, and the need for stricter oversight of such transactions.

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If adopted, the law could position Texas as one of the U.S. leaders in integrating innovation into the gambling and blockchain sectors.

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