That’s a great question The more paranoid among us worry about a modern day redux of EO 6102 which forced redemption of gold back in the 1930s: https://en.wikipedia.org/wiki/Executive_Order_6102 The Texas bill seems more like signaling politics than real policy to me. But there’s an element of this fear in it
yeah but gold is not crypto. A private key literally doesn't have to physically exist. It can be stored in your brain.