Texas House committee passes Bitcoin reserve bill for full floor vote
A Texas House Committee has passed Senate Bill 21 to create a Bitcoin reserve, requiring only a full floor vote before reaching the governor. The bill, approved 9-4 along party lines, follows a 25-5 Senate vote. It establishes the "Texas Strategic Bitcoin Reserve," managed by the state comptroller, allowing investments in digital assets with a market cap of at least $500 billion, currently only Bitcoin. Senator Charles Schwertner introduced the bill, initially Bitcoin-only, later amended to consider other digital assets. The bill's fate is expected to be decided before the Texas legislature adjourns on June 2. Governor Greg Abbott aims to position Texas as the "crypto capital" of the US. Concurrently, Arizona and New Hampshire have enacted similar Bitcoin reserve laws, while Florida has removed two related bills.
