Texas says it will not regulate digital currencies as money

Texas says it will not regulate digital currencies as money In what could be an interesting test case for America’s federal system as Washington looks to establish a regulatory framework for digital currencies, Texas banking regulators have drawn up statewide rules that will not regulate such currencies as money. 

 
In a memo sent out last week, Texas Banking Commissioner Charles G. Cooper said that cryptocurrencies will not be treated in his state as sovereign currencies or legal tender. Texans, then, will be free to buy them, sell them, and use them to buy goods and services free of regulation.