Texas lawmakers propose a gold-backed state digital currency By Cointelegraph

Two Texas lawmakers have introduced identical bills for creating a state-based digital currency backed by gold, a move that comes despite objections from several United States lawmakers against introducing a central bank digital currency (CBDC).

Senator Bryan Hughes introduced Senate Bill 2334 on March 10, with Representative Mark Dorazio introducing House Bill 4903 on the same day, stating that a fractional equivalent amount of physical gold would back the proposed digital currency.

Text of one of the bills. Source: capitol.texas.gov