The Texas House of Representatives passed Senate Bill 21, aimed at establishing a state-managed Bitcoin reserve, with a vote of 105-23, showing strong bipartisan support. This bill introduces a framework for the state comptroller to oversee the management of cryptocurrency holdings through a special fund outside the state treasury. An amendment was adopted to require that eligible cryptocurrencies maintain a $500 billion market cap for 24 months. This legislation would allow Texas to potentially become the second U.S. state to create such a reserve, following New Hampshire. The primary aim of the bill, as stated by its sponsors, is to position digital assets as a strategic opportunity to enhance the state's fiscal resilience. If passed on the final reading, the comptroller will need to report biannually on the reserve's holdings, values, and any fluctuations. This legislative move reflects Texas's ambition to solidify its role as a significant player in the cryptocurrency sector, especially after establishing itself as a major crypto mining hub.

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