Texas governor signals support for Bitcoin reserve bill
Texas Governor Greg Abbott supports a bill passed by the state House to establish a strategic cryptocurrency reserve. The bill, SB 21, awaits Abbott's approval after being introduced three months prior. Abbott has expressed his intention to position Texas as a "crypto capital" by 2024. Other states, including New Hampshire and Arizona, have enacted similar legislation regarding Bitcoin reserves and unclaimed crypto ownership. Approximately half of U.S. states are considering Bitcoin reserve proposals. At the federal level, President Trump signed an executive order for a "Strategic Bitcoin Reserve," but Congress has not yet codified it. Senator Cynthia Lummis is advocating for the BITCOIN Act, which is currently under review by the Senate Banking Committee. The Senate is expected to prioritize discussions on the GENIUS Act for regulating payment stablecoins before addressing the BITCOIN Act.
