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A Chamber Committee in Texas has adopted a Bitcoin reserve bill supported by the Republicans, who now needs only a full vote before going to the Governor’s office for the final decision.
Texas House Committee on the delivery of government efficiency adopted the Senatorial 21 bill in a 9-4 vote May 7. No fine was requested for the bill, which has already adopted a Texas Senate during a vote of 25-5 in March.
The Bitcoin Texas reserve bill would allow the State controller to invest in cryptos
SB 21, if it was approved, would establish the “Strategic Reserve of Texas Bitcoin” which will be controlled by the State controller, Glenn Hegar.
Hegar would then be authorized to invest in digital assets which maintained a market capitalization of more than $ 500 billion in the last 12 months. Currently, the main Bitcoin crypto (BTC) is the only digital asset that meets these criteria.
SB 21 was initially presented as a Bitcoin bill in January. The following month, however, it was refreshed by modifications which allow the inclusion of other cryptos which meet the criteria of market capitalization.
According to the founder of Bitcoin Laws, Julian Fahrer, the decision around SB 21 should be known before June 2. It was at this time that the Legislative Assembly will adjourn it.
The Texas Bitcoin reserve should be a vote.
The legislature of the TX adjourns 6/2, so we should know more in the 3 weeks at the latest.
– Julian Fahrer (@julian_fahrer) May 8, 2025
If the bill obtains the full vote, he will go to Greg Abbott for a final decision. Abbott already has expressed His desire to make the solitary star states the “cryptographic capital” of the United States.
Texas seeks to join the States that have signed Bitcoin reserve bills
Texas vote follows shortly after the governors of Arizona and New Hampshire recently signed Bitcoin reserve bills for their states.
The governor of Arizona, Katie Hobbs, approved a bill which allows the State to keep the crypto not claimed and to establish a reserve of Bitcoin and Digital assets. The state can also mark the abandoned crypto to win rewards or receive godparents.
Likewise, the governor of New Hampshire, Kelly Ayotte, signed Bill 302 of the Chamber on May 6, allowing the Treasury of the State to use funds to invest in cryptos with market capitalization of more than $ 500 billion.
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