The Bitcoin Strategic Reserve Bill in Texas, USA has been passed by the Senate
PANews reported on March 7th, according to CoinDesk, that following President Trump's announcement of a similar federal plan, more and more states in the United States are leaning towards investing public funds into the cryptocurrency sector. Texas has now become one of the leading competitors in this field. On Thursday, the Texas Senate passed SB 21 bill which will allow the state to invest part of its public funds into digital assets, especially Bitcoin. Texas Lieutenant Governor Dan Patrick issued a letter regarding the passage of "Texas Bitcoin Reserve Act" in Senate: "Establishing a Bitcoin reserve for Texas is a bold move that other states should emulate. I stand with President Trump and hope to make Texas the center of America's digital future."
In news from yesterday, New Hampshire's bitcoin bill was overwhelmingly approved by House committee. In addition, nearly ten states have been vigorously promoting bills allowing similar allocations while at least five states have encountered setbacks or failed to pass their bills. Utah has always been far ahead in these efforts and currently only needs approval from Senate to submit its bill to governor. However, legislative session ends this week leaving little time for both Senate and State Assembly jointly approve investing up-to 5% funds from certain public accounts into digital assets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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