Bitcoin in Texas. The race to set up a Bitcoin strategic reserve continues in the United States with Various successes depending on states. Things are advancing for example well in certain states such as Arizona, New Hampshire or Texas, with the SB 21 bill which has just been validated by the Committee of the House of Representatives.
- Texas has validated a crucial step to establish a Bitcoin strategic reserve, with the approval of the SB 21 bill by a committee of the House of Representatives.
- The bill aims to allow state investment in Bitcoin, and potentially other cryptocurrencies, before the end of the legislative session on June 2.
Texas wants its BTC strategic reserve
The legislative procedure therefore continues within the framework of the bill SB 21 tabled by the republican senator Charles Schwertner who seems determined to Set up a Bitcoin Strategic Reserve on behalf of the state of Texas.
This bill has indeed just passed an important new step, with the favorable vote of the Committee of the House of Representatives on the effectiveness of the government (Texas House Committee on Delivery of Government Efficiency). This in the context of a vote 9 against 4 which leaves no doubt on the political line followed by its opponents.
Because Bill SB 21 has already been approved by the Texas Senate last March. So it only has to Pass the final vote of the House of Representatives to be definitively adopted. Then he must be signed by the governor Greg Abbottknown for his support in Bitcoin.
Bitcoin and cryptocurrencies in good place in the US
This bill aims to allow the State controller – currently Glenn Hegar – to invest in digital assets whose market capitalization has reached at least $ 500 billion in the past 12 months. Which, for the moment, only concerns Bitcoin. But that could also include other cryptocurrencies in the future.
A procedure which should find its outcome before June 2, according to The founder of Bitcoin LawsJulian Fahrer. Because it is indeed on this date that Texas legislature will end his work.
The United States is currently in the midst of Euphoria Bitcoin. A situation carried by the campaign promises of Donald Trump, now elected president. And even if some states like Florida decide to backtrack, others like Arizona or New Hampshire continue their race for the crypto.