Texas may be very prone to turn out to be the second US state with a Bitcoin Reserve, now that SB 21 handed the ultimate Home studying. Solely the governor’s signature stands between it and changing into a legislation, and he has signaled his assist.
Regardless of latest setbacks, pro-crypto legislative efforts within the US are wanting robust. Texas adopted language from New Hampshire’s profitable effort, and future payments may do the identical.
Texas May Have a Bitcoin Reserve by June 2
Simply yesterday, Texas’ state legislature overwhelmingly voted to approve a state-level Bitcoin Reserve. This follows months of preparation, representing a continued stage of enthusiasm. Professional-industry observers believed that the ultimate vote may happen as quickly as right now, and it appears like this optimism has been vindicated:
“Texas passes Strategic Bitcoin Reserve Invoice. SB 21 passes third studying by a vote of 101-42 and now heads to the Governor’s desk for signature,” a crypto coverage watchdog claimed. Observers additionally famous that the vote happened in a short time.
Assuming that Governor Greg Abbot indicators the invoice, then Texas will comply with New Hampshire to be the second US state with its personal Bitcoin Reserve. Like New Hampshire’s measure, SB 21 may additionally enable belongings apart from Bitcoin to enter the reserve. A token might want to keep a market cap of $500 billion for twenty-four months, after which will probably be eligible.
Professional-crypto regulation efforts are nonetheless robust, as evidenced by the GENIUS Act’s unlikely success this week. If different Bitcoin Reserve proposals be taught from Texas’ instance, the motion may see extra successes within the close to future.
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