Texas regulators approve bitcoin-for-alcohol sales

Home » Texas regulators approve bitcoin-for-alcohol sales
Image source: https://www.flickr.com/photos/100239928@N08/

Image source: https://www.flickr.com/photos/100239928@N08/

The Texas Coinitiative, a cryptocurrency advocacy group in the Lonestar State, recently sent an inquiry letter to the Texas Alcoholic Beverage Commission hoping to clarify a fundamental question: Is it legal to buy alcohol with bitcoin? According to the Texas Alcoholic Beverage Commission (TABC), it’s not a problem.

TABC Director of Communications and Governmental Relations Carolyn Beck stated: “Unlike Ohio state law, the Texas Alcoholic Beverage Code does not require the customer to pay in money when purchasing an alcoholic beverage from a TABC-licensed establishment. Specifically, I am talking about a retailer, winery, brewery or distillery selling to the ultimate consumer. The acceptance of digital currency such as Bitcoin from a consumer in this situation is the establishment’s choice.”

The broader question of buying alcohol with bitcoin is highly relevant, as many states still have Prohibition-era laws on the books constraining how alcohol can be purchased. In many states, for instance, so-called “high gravity beers” are technically illegal because their alcohol content is higher than the legal limits set back in the 1930s. Similar issues about what defines a legal purchase of alcohol has caused significant problems with a proposed “Bitcoin Boulevard” in Cleveland, Ohio, as state law requires all sales to take place in dollars.

The Texas announcement follows a similar statement by the California Department of Alcoholic Beverage Control (ABC) last month, also confirming that bitcoin acceptance was entirely the decision of the establishment, not the state.

Given that one of the indicators of mainstream bitcoin adoption is being able to “buy a beer” with it, the Texas decision is symbolically important. Even the popular bitcoin tipbot ChangetTip recognizes “a beer” as default amount, currently set to $3.50.

New Casinos

DEDPRZ.com is the BEST Gamblefi online casino and sportsbook I have seen to date. Don't miss this one if you are into Crypto Casinos

Get 180 free spins and up to 5 BTC in bonuses

CasinoMax: 325% match bonus up to $9750 + 25 bonus spins for 7 consecutive days

400% welcome bonus up to $8000. 40x wagering requirement is required prior to your first withdrawl

Great Welcome Slot Bonus!

Claim a HUGE 500% deposit bonus with no maximum with Crypto

© Copyright 2024 The Best Crypto and Bitcoin Casinos and Sports Betting Sites | Bitcoinx
Powered by WordPress | Mercury Theme