New Texas bill proposes ten million dollar Bitcoin limits for local governments
Image: Crypto.newsA new Texas bill would allow cities and counties to invest up to $10 million each in Bitcoin. Representative Ron Reynolds pre-filed House Bill 815 for the 90th Texas Legislature. The bill amends the Public Funds Investment Act. It excludes school districts from the proposed authority. The measure omits specific custody rules and market cap thresholds.
Key points
- House Bill 815 lets each city and county invest up to $10 million in Bitcoin.
- School districts are excluded from the proposed local government investment authority.
Why it matters
Local governments in Texas may gain the option to allocate public funds directly into Bitcoin under a proposed legislative framework.
What's unclear
How local governments will handle custody and loss safeguards without rules specified in the bill remains unclear.
Price context · BTC
At publication
$74,034.00
Now
$73,840.00
Change since
−0.26%
7 days · dashed line = publication
Sources · 2 publishers
Crypto.news
Tier 2
Texas bill would open $10M crypto investments to cities and counties
Coverage timeline
- First reported by Crypto Briefing
- Also reported by Crypto.news
- CryptoVideos brief published
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