Texas’s Strategic Bitcoin Reserve passes home, waiting for the governor’s sign-off
Texas is closer to the establishment of a strategic bitcoin (BTC) reserve after a Senate bill to create one has been approved by the Lower House.
The House of Representative of the State Voted in favor of Senate Bill 121 that will establish a “Texas Strategic Bitcoin Reserve for the purpose of investment in cryptocurrency and the Comptroller’s investment authority of public reserve accounts and some other state funds.”
The bill, which passed a 101-42 vote, is now awaiting a vote in conjunction from the Senate following the amendments to the House before passing to Governor Greg Abbott’s desk for a final sign-off.
Texas will be the second state to establish a strategic reserve for digital assets After New Hampshire.
An equivalent vote in Arizona gets everything to the governor but Vetoed by Katie HobbsCalling Bitcoin an “not such investment.” However he has make a similar bill allowing the state to hold abandoned digital assets as unimaginable property.
