The Texas Home of Representatives has handed the third studying of SB 21, a invoice that seeks to determine a strategic Bitcoin reserve within the state. The invoice handed by way of a 101-42 vote and can now go to Texas Governor Greg Abbott’s desk for both a signature or a veto.
SB 21, authored by state Senator Schwertner, establishes a Bitcoin (BTC) reserve that’s managed by the state’s comptroller. The laws permits the comptroller to put money into any cryptocurrency with a market cap above $500 billion over the earlier 12-month interval. At present, the one cryptocurrency becoming the necessities is Bitcoin.
Earlier than the vote, state consultant Capriglione stated to the chamber that the invoice was a “pivotal second in securing Texas’s management within the digital age with the passage of our strategic Bitcoin reserve. Now, we embrace a contemporary asset with conventional properties for future promise.”
This can be a creating story, and additional info shall be added because it turns into out there.
