Texas Bitcoin Reserve Bill Clears House, now Awaits Vote

By: cryptosheadlines|2025/05/08 17:00:03

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com The Texas House committee passed SB 21 to create a Bitcoin reserve controlled by the state comptroller.Arizona and New Hampshire enacted similar crypto reserve laws allowing asset management and investment.SB 21 permits only digital assets with a $ 500 B+ market cap; currently, only Bitcoin qualifies.A proposed Bitcoin reserve bill in Texas advanced one step closer to becoming law after passing a key House committee. Senate Bill 21, which seeks to establish a state-controlled Bitcoin reserve, moved forward following a 9-4 vote along party lines on May 7. The Texas House Committee on Delivery of Government Efficiency passed the measure without amendments.Senate Bill 21 Moves Toward Final VoteThe bill passed the Texas Senate on March 6 by a 25-5 vote. If it clears a full House floor vote, it will proceed to Governor Greg Abbott’s desk. Abbott received Bitcoin donations during his 2014 campaign and voiced support for making Texas a hub for digital asset activity.The bill allows the Texas Comptroller, currently Glenn Hegar, to allocate state funds to eligible digital assets. These assets must have maintained a $500 billion market capitalization over the past 12 months. At this stage, BTC remains the only asset meeting that condition.Scope of the Bill Adjusted Since FilingRepublican Senator Charles Schwertner initially introduced Senate Bill 21 in January as a Bitcoin-specific measure. However, the proposal was amended in February to include other qualifying digital assets in the future, potentially. The text now covers any digital asset with the required market capitalization threshold.The legislation also seeks to create a ‘Texas Strategic Bitcoin Reserve’, managed directly by the state comptroller’s office. This reserve would not use private investor contributions or outside funding sources.Bitcoin Laws founder Julian Fahrer said on X that the bill’s fate will be known by June 2, when the Texas legislative session concludes. If passed, this would mark a formal adoption of Bitcoin into the state’s treasury strategy.Texas Bitcoin Reserve should be one vote away.TX legislature adjourns on 6/2, so we should should know within ~3 weeks at the latest. https://t.co/iytSSNrWmo— Julian Fahrer (@Julian__Fahrer) May 8, 2025Other States Advance Similar Crypto Reserve MeasuresThe Texas decision arrived the same day Arizona enacted its own crypto reserve law. Governor Katie Hobbs signed a bill permitting the state to manage unclaimed cryptocurrencies and create a dedicated reserve fund. Arizona may also stake abandoned crypto holdings and collect airdrops as part of the program. These earnings would be deposited into the state-managed digital asset reserve. New Hampshire also took legislative action earlier this week. Governor Kelly Ayotte signed House Bill 302 into law on May 6. The measure permits the state treasury to invest in cryptocurrencies valued at above $500 billion in market cap. Meanwhile, Florida legislators removed two proposed Bitcoin reserve bills on May 3. The session included passing other unrelated bills, including restrictions on smartphone use in schools and prohibiting fluoride additives in drinking water.Source link

-- Price

Interlace has launched two innovative products, Agent Card and Scan to Pay, bridging traditional finance and the crypto world, and comprehensively accelerating the integration of AI Agent consumption and stablecoin payments into everyday business scenarios with a more secure and efficient enterprise...

Morning Report | Musk's xAI launches Skills; Duan Yongping to first build position in Circle in Q1 2026; Polymarket partners with Nasdaq to launch prediction market

Overview of Important Market Events on May 19

WEEX P2P now supports COP—Merchant Recruitment Now Open

To make crypto deposits easier, WEEX has officially launched its P2P trading platform and continues to expand fiat support. We're excited to announce that the Colombian Peso (COP) is now available on WEEX P2P!

Dialogue with Lead Bank Founder Jackie: American Banks Re-embrace Crypto

Excellent crypto companies are not those that are "best at circumventing regulations," but those that are "best at evolving in collaboration with regulations."

Vitalik: What we need to do is not to fight against AI, but to create a sanctuary

What is truly scarce is not computing power, but people who are willing to think proactively and retain sovereignty.

Morning News | VanEck and Grayscale submitted BNB ETF amendments on the same day; BlackRock discusses investing billions of dollars in SpaceX's IPO; Michael Saylor releases Bitcoin Tracker information again

Overview of Important Market Events on May 17

Crypto ETF Weekly | Last week, the net outflow of Bitcoin spot ETFs in the United States was $995 million; the net outflow of Ethereum spot ETFs in the United States was $255 million

Avenir Group solidifies its position as the largest Bitcoin ETF institutional holder in Asia, ranking first in the region for eight consecutive seasons.

This Week's News Preview | The Federal Reserve Releases the Last FOMC Minutes of the "Powell Era"

Highlights of the week from May 18 to May 24.

Blockchain Capital Partner: Most people's understanding of on-chain economy is narrow

In the author's view, the most astonishing things in the blockchain space have yet to be created. Flash loans give us a glimpse, but this is just the tip of the iceberg.

The ambition of "one account trading global assets": How does CoinUp.io break down asset barriers to become an industry dark horse?

Create a diversified financial ecosystem through collaboration between CEX and public chains.

The tokenized market will reach a trillion-dollar scale, but there are still four major obstacles

WEEX Crypto Pizza Day: Join Us in Dubai for a Slice of Crypto History

Harvard and other institutions are liquidating their assets, and six core talents have left in a month. What is happening with Ethereum?

Vitalik's long-term vision is clear, but the realization of that vision requires stable coordination capabilities and continuous experience accumulation, both of which seem to be rapidly diminishing.