Texas Governor Greg Abbott, on June 29, signed House Bill 1056 into law, which recognises gold and silver as legal tender for everyday transactions within the US state. The legislation allows Texans to use the precious metals in daily financial dealings, with the system expected to roll out by May 2027. "I signed a law authorizing Texans to use gold & silver as legal tender in day-to-day financial transactions. It fulfills the promise of Article 1, Section 10 of the U.S. Constitution," Abbott stated on X. The law tasks the state comptroller’s office with setting the value of the metals and partnering with a debit card provider. Users will be able to deposit gold or silver, which will then be converted into dollars during purchases. It is to be noted that transaction fees and merchant networks are still being discussed. Starbase Texas City: Elon Musk’s SpaceX Officially Incorporates Separate Town for Its Employees and Operations in Cameron County.

Gold and Silver Become Legal Tender for Daily Transactions in Texas

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