Texas Legislature Approves Cryptocurrency Investment Fund

The Texas House of Representatives has approved Senate Bill 21, sending it back to the Senate for final approval with minor modifications. The bill proposes establishing a cryptocurrency investment fund outside state treasury funds, overseen by the Texas Comptroller. A five-member advisory committee, including the Comptroller, will be tasked with developing investment strategies. The Comptroller is required to publish a financial status report every two years. As of now, Texas remains the top location for Bitcoin mining operations in the United States.