Texas Alcoholic Beverage Commission Allows Bitcoin-For-Alcohol Sales

Journalist:
June 2, 2014

Today, the Texas Coinitiative posted a new update to their blog: The Texas Alcoholic Beverage Commission OK’s Bitcoin-For-Alcohol sales. Elsewhere in the country, Ohio lawmakers have stymied Bitcoin adoption somewhat by banning Bitcoin-For-Alcohol sales in their state. Elsewhere in Texas, the Texas Department of Banking (DOB) released a guidance which clearly states that businesses accepting cryptocurrencies do not require state money transmitting licenses. Texas, as one of the larger states in America, has understandably been leading the charge in Bitcoin adoption. In March, the Texas Bitcoin Conference was a huge success in Austin, TX. The clarification from the Texas Alcoholic Beverage Commission comes directly as a result of persistent inquiries by Texas Bitcoiner and serial entrepreneur: Sheldon Weisfeld, a founding member of the Texas Coinitiative. Mr. Weisfeld is the CEO of CoinVault ATM which operates a bi-directional Bitcoin ATM at Central Texas Gun Works. Bitcoin adoption is on the rise in every corner of the world, and the Bitcoin price is currently reflecting that.

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[dropcap size=small]R[/dropcap]ead the press release below:

Texas Alcoholic Beverage Commission OK’s Bitcoin-For-Alcohol Sales

Houston, Texas, June 2nd, 2014 – The Texas Alcoholic Beverage Commission (TABC) has responded to an inquiry from Sheldon Weisfeld, the CEO of CoinVault ATM, a founding member of the Texas Coinitiative, regarding the legal status of Bitcoin-For-Alcohol sales at Texas businesses under the oversight of the TABC. Though the federal Alcohol and Tobacco Trade Bureau has given the green light to Bitcoin-For-Alcohol sales, some state agencies, notably one in Ohio, have taken a negative stance.  As a result, interested parties in California, and now Texas, have sought to clarify their states’ stance on Bitcoin-For-Alcohol sales. The TABC’s statement will aid the Texas Coinitiative’s Bitcoin Alley project, which seeks to promote Bitcoin adoption in Texas area stores, restaurants, and bars that are licensed under the jurisdiction of the TABC.

The main task of the TABC is regulating all phases of the alcoholic beverage industry in the great state of Texas. The Texas Coinitiative applauds the TABC and their move to reassure merchants that accepting Bitcoin will not jeopardize their alcohol license. In the next few months, in light of the cleared regulatory haze, several alcohol-serving businesses around the state will likely announce their acceptance of Bitcoin.

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.”

About Texas Coinitiative

The Texas Coinitiative is a non-profit organization of Bitcoin enthusiasts seeking to promote the acceptance of Bitcoin, through its’ initiatives designed to inform, educate, and assist individuals and merchants on the adoption of Bitcoin and other digital currencies while, at the same time, expanding the use of the new technology.  We are currently working on the establishment of a Houston Bitcoin Alley and a Texas Bitcoin Embassy in Houston, TX, the 4th largest city in the United States.

If you are an individual or a business owner in Texas who is interested in Bitcoin and other digital currencies, we want to talk to you.
For further information please contact: info@texascoinitiative.com

Disclaimer: Caleb Chen is a founding member of Texas Coinitiative

Last modified (UTC): June 2, 2014 15:35

Caleb Chen @bitxbitxbitcoin

Caleb is a graduate of the University of Virginia where he studied Economics, East Asian Studies, and Mathematics. He is currently pursuing his MSc in Digital Currency at the University of Nicosia.