The Bitcoin reserve proposal was submitted by Texas unanimously by the Business and Trade Committee and will be passed to the Senate vote.
However, many bills have been defeated in other countries controlled by Republicans. Even the Republican Party in Texas is not unified behind this effort, and it may not succeed in the Senate.
Can Texas pass the Bitcoin Reserve?
Many US states are trying to pass their Bitcoin reserves, making them major BTC holders. When these bills began to provide them for the first time, the encryption community was eclipse because it would guarantee up to 23 billion dollars in new acquisitions.
Today, another Bitcoin reserve effort, thanks to a committee in Texas:
SB Subcommittee 21 [the Bitcoin Reserve bill] The Business and Trade Committee has just passed a 9-0 vote. Bitcoin strategic reserves head to the Senate Hall. ” Claim Brad Johnson, a local correspondent.
When the proposal passes through the committee’s vote, this means that a small group of legislators specializing in this matter – here, the Business and Trade Committee – has reviewed it and agreed that it deserves more attention.
Once the proposal passes the committee stage, it is transferred to the full Senate. This is when all Senators discuss and vote. If the majority of Senators support the proposal, it can move forward to become a law.
This news from Texas is a special comfort because it is a new victory for the efforts of Bitcoin Reserve. At the beginning of the month, they had a strong momentum, with great progress in Utah.
However, Montana rejected her budget bill, followed by many other red countries. In other words, it is the first major rift in the new political alliance of Crypto.
The new lieutenant in Texas strongly supports bitcoin reserve law, which certainly helped in his chances. The legislative effort in Wyoming was not made through the committee, although a state member of the state strongly supports him.
One of the main factors that may help this legislation is that Texas is one of the largest bitcoin mining centers in the United States. Currently, the bill is not a permit to delegate Texas buys these assets from local companies, but they can easily.
Nowadays, though, the recent proposal is defeated in various red -red countries. It is still very unclear what the invoice chances are.
Disintegration
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