The founder of TEXITcoin, Richard W. Wisher, in an interview with Crypto.news, responded to allegations about the project by the securities regulator of Texas. He indicated that TXC was part of the Workload Certification Network and that mining was related to commodity attributes and should not be considered a securities issue.
Texas mines are expanding.
TEXITcoin currently operates a mining network in Texas and expands mines in McKinney, Mansfield and Conroe. Wisher states that the project has invested $5.5 million to purchase equipment and expand the computing infrastructure.
Integrating mining and trading channels
He described the fact that TXC could combine mining with Litecoin and Dogecoin, and that machines still needed to consume real power, but could produce more output per degree. The original text also mentions that TXC has been traded on MEXC, XT.COM, BitMart and Pionex, and that the packaging version TXC is also available on the Ether Workshop.
Regulation and tax disputes
In the case of the Texas Securities Commission, Wisher denied that the project had an unregistered investment issue or misleading statement. He also mentioned that mining still required environmental permits, electricity access, building codes and tax declarations at the state and federal levels. It is also mentioned that the Texas Public Records case and the U.S. Energy Information Agency investigation were also considered to be part of the mining data disclosure dispute.