A House bill filed by Texas Representative Ron Reynolds, a Democrat, aims to limit cryptocurrency investments by local and state authorities. The proposed legislation restricts the Texas comptroller from investing more than $250 million of the Economic Stabilization Fund in Bitcoin or other cryptocurrencies and sets a cap of $10 million for municipalities or counties. This bill, HB 4258, follows a separate Senate bill that would allow the comptroller to invest without purchase limits for a Bitcoin reserve. It remains unclear whether Reynolds supports the Senate's proposal or prefers to impose these restrictions to safeguard against excessive crypto investments. If passed and signed by Governor Greg Abbott, the bill would become effective on September 1. This legislative push aligns with wider discussions about cryptocurrency management at both state and federal levels, echoing statements made by former President Trump regarding a federal Bitcoin reserve.

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