Texas House Approves Strategic Bitcoin Reserve Bill

Texas has taken a significant step towards embracing cryptocurrency by passing legislation for a state-backed Bitcoin reserve. On May 21st, the Texas House of Representatives approved Senate Bill 21 and sent it to Governor Greg Abbott’s desk for final approval. The bill was introduced by Senator Charles Schwertner and championed in the House by Representative Giovanni Capriglione, receiving strong bipartisan support with a 105-23 vote. If signed into law, the Texas comptroller would oversee this new crypto reserve which could potentially include Bitcoin and other selected digital currencies. This move aims to bolster financial stability within the state.