COINOTAG News, May 18th. The Texas Strategic Bitcoin Reserve Bill (SB 21) is set for its second reading in the House on May 20th, a milestone before the anticipated final voting process. If approved, this legislation will progress to the Governor for ratification ahead of the Texas legislature’s adjournment on June 2nd. Initially passed by the Texas Senate on March 6, 2025, with a vote of 25 to 5, SB 21 has gained traction following its unmodified advancement from the House Committee on May 8, 2025.
This bill aims to establish the Texas Strategic Bitcoin Reserve, which will mandate investments in Bitcoin and numerous other cryptocurrencies. The fund will be supported through various mechanisms including dedicated revenues, appropriated legislation, and investment yield. Furthermore, to ensure robust security, provisions for cold storage will be implemented. SB 21 also outlines the formation of an advisory committee tasked with advising on investment strategies and requires comprehensive reserve reports to be published biennially, ensuring maximum transparency.
Source: https://en.coinotag.com/breakingnews/texas-strategic-bitcoin-reserve-bill-sb-21-moves-to-crucial-vote-what-it-means-for-bitcoin-investment/