The Great Plains, as the state that is home to many of the state’s most prominent tech companies, is increasingly being dubbed a “cryptocurrency hub” by a group of activists and tech executives who are warning of the potential for the digital currency market to be misused by government and private interests alike.
The state’s legislature recently passed a bill that would allow cryptocurrency companies like Dash to be listed on its state securities exchange, but a group that advocates for the cryptocurrency industry said it would only be allowed to do so if Dash were to become the first state-backed cryptocurrency company.
“There’s no question that Dash could be abused,” said Michael Johnson, co-founder and CEO of Dash, a digital currency that is currently trading at a high price of $300.
“It is possible that Dash will be used to buy and sell government favors.
If Dash is used as a tool of political influence, it’s not only illegal but potentially illegal to hold the position of state official.”
The state has been criticized for the way it handles cryptocurrency companies, which include many that were founded by individuals with no formal training and who often use the money to fund political campaigns.
The bill passed the legislature by a wide margin in June, with Republican Governor Greg Abbott and Democratic lawmakers voting in favor of the bill.
“We are not a regulatory agency, and we have not yet set up any formal system,” said Republican state Sen. Mike Kelly, one of the lawmakers who voted against the bill, in a statement.
“We have not even been able to set up a single state or regional office for cryptocurrency.”
“The Dash bill would give these companies an incentive to create more cryptocurrency companies,” said Alex Williams, executive director of the Great Lakes Digital Currency Association, a nonprofit that advocates on behalf of the cryptocurrency economy.
“And it would also be a way to undermine existing financial systems.”
Dash is one of more than 30 cryptocurrencies that have gained traction since the Great Recession, with its price rocketing from under $1,000 to nearly $2,000 in recent months.
The cryptocurrency is being used as an alternative currency to bitcoin, a currency that has gained popularity in recent years for its ability to be traded anonymously.
Dash is backed by the Ethereum blockchain, which is built on top of bitcoin, and uses a cryptographic protocol called proof-of-work to ensure that the supply of a cryptocurrency can be controlled.
The company said in a blog post that it has received more than $10 million in funding from outside investors in its first two months of operations.
Dash has attracted attention in recent weeks due to the fact that it allows users to transact with the virtual currency anonymously.
This allows for people to keep their funds private while also avoiding the need to verify their identity online, making it much more difficult for governments to track the transactions.
Dash, which has raised more than half a billion dollars in its two-year history, has been trying to build an audience for itself as an online marketplace for buying and selling digital currencies.
Johnson said that Dash is currently the largest seller of cryptocurrency on the website, but it has recently seen its number of orders decrease as more and more businesses become interested in using the platform.
“It’s been a long, hard road to get to this point, and the only thing we can do is to build a community,” Johnson said.
“I think the community is on our side.”
While Dash is one cryptocurrency that has been gaining attention in the wake of the new legislation, other cryptocurrencies are gaining in popularity.
The value of cryptocurrencies like bitcoin and ether have also skyrocketed since the beginning of the year.
In the past month, the price of ether rose by more than 10% to more than US$5,000, according to CoinMarketCap.
Dash’s Johnson said he thinks that the rise in interest from governments and companies in the cryptocurrency sector will eventually lead to the digital currencies’ use as an “equity fund.”
“This is a way for government and corporations to hedge their bets, and to get the most out of their digital currency investments,” Johnson told The Daily Signal.
“A lot of people are investing in cryptocurrencies for this purpose, because they see it as a way of being able to get value out of these investments.”
The Great Plains Digital Currency Coalition, which Johnson chairs, has argued that the state is taking too long to regulate cryptocurrencies and should focus on creating more regulations.
“The state should focus its efforts on ensuring that cryptocurrencies are fully regulated in the state,” Johnson wrote in a post on the group’s website.
“If this means focusing on regulation of the blockchain industry, then that’s fine.
But the state should instead focus on addressing the use of cryptocurrencies by local governments and businesses.”