The Texas Senate handed the Bitcoin (BTC) strategic reserve invoice SB-21 in a 25-5 vote on March 6, after deliberating the deserves of the laws on the Senate ground.
Texas State Senator Charles Schwertner argued for the invoice, saying that it could assist the US state shore up its steadiness sheet with a precious, scarce asset.
Lawmakers additionally assuaged fears that Bitcoin was a direct competitor to the US greenback as a world reserve forex, including that it was rather more much like gold.
Texas State Senator Charles Schwertner addresses Texas Senate in help of the invoice. Supply: Bitcoin Legal guidelines
The Texas strategic Bitcoin reserve laws was launched by State Senator Charles Schwertner in January 2025 as a Bitcoin-only invoice that omitted the acquisition of different digital belongings.
Nevertheless, in February 2025, the invoice was refiled to incorporate different digital belongings following US President Donald Trump’s Jan. 23 government order directing a fee to review the feasibility of a “digital asset stockpile.”
Web page one among SB-21 establishing a Bitcoin and digital asset reserve. Supply: Texas State Senate
It is a growing story, and additional info will probably be added because it turns into out there.