Texas Alcoholic Beverage Regulator Green-Lights Bitcoin-For-Booze Sales
- Texas alcohol regulator OKs bitcoin booze sales
- Joins California in approving these types of sales
- Ohio, by comparison, has banned booze sales for bitcoin
The State of Ohio may have a beef with allowing the purchase of alcoholic beverages with bitcoin, but Texas on the other hand is just the opposite.
In an inquiry submitted to the Texas Alcoholic Beverage Commission (TABC), CoinVault ATM CEO Sheldon Weisfeld (who also happens to be a founding member of the Texas Coinitiative) sought to find the legal status of alcohol sales paid for in digital currency in the State of Texas.
Said Carolyn Beck of the TABC in response:
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 TABC is responsible for overseeing the sale of alcohol in all respects in Texas, and would have final say in green-lighting such a decision. The news will allow alcohol sellers to have a clear understanding of the regulatory landscape and not have to take unnecessary risks.
Texas joins California in states that have made it clear that it is permitted for an individual to use digital currency to purchase alcohol (of course, provided they are aged 21 or higher).
The Federal Alcohol and Tobacco Trade Bureau has also given bitcoin-for-booze sales a green light.
We are in an interesting time with respect to the development of digital currencies. While the technology has proved it can work, the world is seemingly becoming acclimated to the presence of bitcoin (and others), and setting rules outlining what’s okay and what’s not.
The Texas Coinitiative is a non-profit that aims to promote the use of bitcoin through education. The organization is planning a Bitcoin Embassy in Houston, Texas in the near future.
Source Texas Coinitiative