Texas House committee passes Bitcoin reserve bill for full floor vote

Quick Summary:

Abbott expressed his desire to make Texas the “crypto capital” of the US in November and accepted Bitcoin donations as part of his campaign in 2014 Two Bitcoin reserve bills now signed into lawThe Texas vote comes the same day as Arizona Governor Katie Hobbs signed a bill into law that allowed the state to keep unclaimed crypto and establish a Bitcoin and Digital Asset Reserve Fund that won’t use taxpayer or state funds.

SB 21 would establish the “Texas Strategic Bitcoin Reserve,” controlled by the state’s comptroller — currently Glenn Hegar — who would be permitted to invest in digital assets that have obtained a market cap of at least $500 billion over the last twelve months, which would currently only include Bitcoin (BTC).

A Texas House Committee has passed a Republican-backed bill to create a Bitcoin reserve, which now only needs a successful full floor vote before heading to the governor’s desk.

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Article Details

Author / Journalist: Cointelegraph by Brayden Lindrea

Category: Crypto

Markets: United States

Topics: House Bitcoin State Crypto Committee Senate Reserve Vote Bill Passed Texas

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-08 @ 06:14:39 (12 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 372 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28488185

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