Proposing a constitutional amendment relating to the right to own, hold, and use any mutually agreed upon medium of exchange.
By ratifying HJR95, the state would solidify the legal framework protecting individuals' rights to utilize various forms of currency without governmental interference. This could have significant implications for the regulation of digital currencies and could empower citizens to choose alternative methods of trade as society becomes increasingly reliant on non-traditional financial systems. Additionally, it may set a precedent for states to adopt similar protections, potentially leading to broader national discussions regarding individual rights in financial transactions.
HJR95 is a proposed constitutional amendment that seeks to enshrine the right of the people to own, hold, and use any mutually agreed upon medium of exchange. This includes cash, coins, bullion, digital currencies, and privately issued scrip when trading and contracting for goods and services. The bill aims to prevent any governmental prohibition or encumbrance of such ownership, thereby protecting individual financial rights and autonomy regarding medium of exchange. If approved, this amendment would be presented to voters at an election set for November 7, 2017.
Notably, the proposal could spark debate about the balance between state regulations and individual rights. Critics might argue that while the intent is to safeguard financial freedoms, there could be concerns regarding potential misuse or lack of oversight in non-traditional forms of currency. Additionally, there may be discussions surrounding the ramifications for tax regulations and anti-money laundering efforts if various unregulated currencies are allowed to flourish under this amendment.