- Texas Senate considers amendments to Bitcoin Reserve Bill.
- Bill reaches final legislative stages in Texas.
- Potentially sets a precedent for state-level Bitcoin adoption.
The Texas Senate is reviewing amendments to the Bitcoin Reserve Bill, which is nearing final approval for Governor Greg Abbott’s signature. This development could enhance Texas’s role in blockchain and cryptocurrency.
Texas Senate is set to review amendments to Senate Bill 21, known as the Texas Strategic Bitcoin Reserve. Authored by Senator Charles Schwertner, SB 21 proposes a state-managed Bitcoin reserve. Both chambers of the Texas legislature have approved the bill with strong bipartisan support.
SB 21 Gains Bipartisan Support Amid State-Level Bitcoin Push
The bill’s progress signifies Texas’s push toward embracing Bitcoin. While awaiting the Senate’s final vote, the initiative has drawn attention nationwide. The bill outlines a dedicated fund administered outside the state treasury, predominantly financed through state appropriations and voluntary donations.
Senator Charles Schwertner, Author of SB 21, stated, “This bill positions Texas as a national leader in cryptocurrency innovation while also enhancing our financial resilience.” – Texas Senate Bill 21 – Legislative Document
Texas to Set Regulatory Benchmark in Cryptocurrency Policy
Did you know? Historical trends point to increased state-level adoption of Bitcoin, influencing financial and technological landscapes.
Bitcoin, currently priced at $109,406.65, holds a market cap of $2.17 trillion with a 63.41% dominance, according to CoinMarketCap. The cryptocurrency displayed a price increase of 0.45% over the past 24 hours and 15.63% over 30 days, highlighting its volatility.
Insights from the Coincu research team suggest Texas could set regulatory benchmarks in U.S. cryptocurrency policy. These moves could potentially attract investment flows into the cryptocurrency sector.
Source: https://coincu.com/339947-texas-bitcoin-reserve-bill-advancement/