Texas House approves second reading of Bitcoin reserve bill with strong support from both parties.
The proposed reserve will be managed by the Texas Comptroller as a fund outside the state treasury.
Texas may become the third US state to hold Bitcoin reserves after New Hampshire and Arizona.
Texas has moved closer to launching its own Bitcoin reserve. Lawmakers in the Texas House passed Senate Bill 21 during its second reading. The bill gained strong bipartisan support with 105 votes in favor and 23 against. It now heads to the third and final reading.
Texas Positions Itself for a Leading Role
If the bill passes the final vote, Texas could become the third U.S. state to hold Bitcoin reserves. Arizona and New Hampshire have already moved forward with similar plans. The proposed legislation allows the Texas Comptroller of Public Accounts to manage the reserve. The bill describes the reserve as a special fund outside the state treasury.
The reserve will hold Bitcoin and possibly other digital assets. Lawmakers say it is meant to act as a hedge against inflation and financial instability. An amendment added by Representative Linda Garcia extended the required market capitalization period from 12 to 24 months.
Growing Political Support Across States
Other U.S. states are working on similar legislation. Utah, Oklahoma, and Kentucky have begun drafting their own Bitcoin reserve bills. Interest has grown sharply since March when a federal order proposed a national Bitcoin Reserve. That move encouraged several states to explore cryptocurrency-backed reserves.
Supporters say the Texas bill will help boost the state’s financial resilience. It also reflects a growing shift in how states view digital assets. Under the bill, the comptroller must report every two years on the reserve’s status. This includes the value of holdings and any changes in the reserve.
Wider International and Market Impact
Bitcoin is currently trading at $106,370. Rising demand from both governments and private entities continues to drive prices. Interest in the idea of state or national Bitcoin reserves has spread beyond the U.S.
A Ukrainian lawmaker recently proposed the EU’s first Bitcoin reserve. Binance, a major crypto exchange, is backing that plan. In Ireland, Conor McGregor is said to be working on a Bitcoin reserve. He also hopes to meet with El Salvador’s president, known for his support of Bitcoin.
Texas Crypto Roots Run Deep
Texas became a major hub for crypto mining over the past two years. Its favorable policies and energy resources attracted top mining firms. That background helps explain the state’s push for deeper involvement in digital finance.
Senate Bill 21 must now pass a final House vote. If successful, the bill will go to the governor’s desk for approval. Any differences between the House and Senate versions will need resolution before becoming law. Read MoreNews, Bitcoin News, Crypto Live News, NewsNow, Arizona, Bitcoin Reserve, Crypto market, cryptocurrency, New Hampshire, Senate Bill 21, Texas
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