Texas lawmakers have developed the Bitcoin Reserve (SBR) bill to the final stage, which may make it the third country in the United States with encryption reserves. This step follows the steps of Arizona and New Hampsheer, which recently signed two SBR projects in the law.
The fate of the Texas Bitcoin Reserve to be determined by June 2
On Wednesday, the Texas Committee of the House of Representatives on the delivery of government competence (DOGE) approved the Senate Law 21 (SB 21), as it advanced to the next legislative phase.
The draft law by government Senator Charles Schweiter aims to create the Bitcoin Strategic Reserve (BTCOIN), allowing the state observer to invest in encryption assets with a market formation of no less than $ 500 billion over the past twelve months.
The SB 21 Parliament Committee approved a 9-4 vote without amendments, and without more reference committees, it will move to the final vote of the House of Representatives. It is worth noting that the draft law invaded the Senate in Texas on 25-5 votes two months ago.
Texas advances SB 21 to the final voting stage. Source: Bitcoin Laws on X
Pierre Rohard, CEO of Bitcoin Bond, Assure Texas is likely to have SBR, but I noticed that “the big open question is the amount of BTC.”
It is worth noting that the Senator Schroiter initially submitted the encryption legislation in January as the Senate Bill 778 (SB 778), which imposed the annual maximum value of $ 500 million on BTC purchases and had more supervision and restriction security.
In February, he restored the draft law as SB21, as he removed the annual purchase limit and expanded the scope of legislation to include other encryption assets that achieved the market value threshold worth $ 500 billion.
Julian Fahr, founder of Bitcoin laws, Proposal The final decision on SB 21 must be known in the next three weeks at the latest, as the Legislative Board of Texas was postponed on June 2. If the legislation is approved by all members of the House of Representatives, it will be directed to the ruler’s office to be signed or the veto.
The US SBR race continues
Texas follows the steps of New Hampshire and Arizona, which became the first two states with a strategic bitcoin reserve in the United States. On Tuesday, Kelly Ayot, the governor of New Hampshire, announced that it had signed the House of Representatives Law 302 (HB 302) in the law, allowing the state to invest up to 5 % of its public funds in digital assets with at least $ 500 billion in the market, such as BTC and precious metals.
Likewise, the governor of Arizona State, Katie Hobbes, signed the draft law of home 2749 (HB 2740) on Wednesday, “Technically, the creation of the first coding reserves in AZ”, detailed Bitcoin laws. Legislation does not allow investments, but it enables the state to transfer uncomplicated assets, air voices, and bonuses of invitation to reserves.
Policy tracking platform Assure This is an important step because it shows that the ruler Hobbes “is ready to enact a supportive legislation” after the veto of the Senate Bill 1025 (SB 1025) last week.
As the Bittin mentioned, the ruler achieved the veto against “Bitcoin Strategic Law in Arizona” because the encryption assets “were not tested” for the state’s retirement fund. The bill had allowed public funds in Arizona, such as the state treasurer or the state’s retirement system, to invest up to 10 % of its assets under management in encrypted currencies, with a focus on BTC.
Hobbes-friendly encoding brand is very important as the Senate Bill 1373 (SB 1373), another SBR that does not include the investment of the retirement fund, to its office after passing the final voting of the Communist Assembly 17-11 on May 6.
BTC trades at $99,480 in the one-week chart. Source: BTCUSDT on TradingView
Distinctive photo of Unsplash.com, Chart from Tradingview.com
Editing process For Bitcoinist, it is focused on providing accurate, accurate and non -biased content. We support strict resource standards, and each page is subject to a diligent review by our team of senior technology experts and experienced editors. This process guarantees the integrity of our content, importance and value of our readers.
