Texas lawmakers authorised laws to ascertain a state-level strategic Bitcoin (BTC) reserve on Might 21 after a 101‑42 Home vote, based on the Home livestream.
In keeping with Bitcoin Legal guidelines, the SB 21 invoice now must be authorised once more within the Senate with the Home’s added amendments. The Senate authorised the earlier iteration of the invoice with a 25-5 vote in favor on March 5.
Following the Senate vote, the laws can be despatched to Governor Greg Abbott’s desk for his last approval earlier than it may well grow to be regulation.
As soon as SB 21 reaches his desk, the Governor can have 20 days to signal or veto it. If the governor takes no motion, the invoice will grow to be regulation and not using a signature on the primary enterprise day thereafter.
Bitcoin reserve
The proposal permits the state comptroller to accumulate Bitcoin utilizing surplus Common Income, topic to reporting guidelines that mirror these utilized to gold bullion held within the Texas Bullion Depository.
Congressman Giovanni Capriglione, one of many invoice’s main sponsors, informed colleagues throughout flooring debate forward of the tally:
“Immediately is a pivotal second in securing Texas’ management within the digital age with the passage of our strategic Bitcoin reserve. Now we embrace a contemporary asset with conventional properties, however future promise.”
He added {that a} Bitcoin reserve not solely strengthens Texas’s fiscal sovereignty but in addition positions the state as a ahead‑pondering area ready for the evolution of worldwide finance.
If authorised by the Governor, Texas will grow to be the third US state to direct public funds into Bitcoin as a part of a strategic reserve framework, following Arizona and New Hampshire.
The US state would provoke Bitcoin purchases solely after the comptroller publishes procurement tips within the Texas Register and secures a storage contract that satisfies the statute’s location requirement.
Legislative pathway
The Senate cleared SB 21 on March 6. Sen. Charles Schwertner, the invoice creator, argued that allocating a slice of Texas’s out there money to Bitcoin can defend buying energy throughout financial shocks.
Underneath the textual content superior to the governor, the comptroller should disclose acquisition dates, unit counts, and mixture price foundation every quarter.
The laws doesn’t impose a greenback‑denominated cap. Nonetheless, it requires holdings to be custodied with a certified entity inside Texas or inside a US jurisdiction that acknowledges Bitcoin as property.
The invoice additionally instructs the comptroller to check potential income streams tied to community participation, together with Lightning‑enabled cost rails for state charges.
These findings are because of the Home Appropriations Committee by January 2026, establishing a overview forward of the 89th Legislature.
Editor’s Be aware: Article up to date at 21:27 GMT to make clear that the Senate must vote once more following the Home amendments to the invoice.
