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A House Committee in Texas has passed a Bitcoin reserve bill backed by Republicans, which now only needs a full floor vote before it heads to the governor’s desk for the final decision.
The Texas House Committee On Delivery of Government Efficiency passed Senate Bill 21 in a 9-4 vote on May 7. No amendments were requested for the bill, which already passed a Texas Senate in a 25-5 vote in March.
Texas Bitcoin Reserve Bill Would Allow The State’s Comptroller To Invest In Cryptos
SB 21, if approved, would establish the “Texas Strategic Bitcoin Reserve” that will be controlled by the state’s comptroller, Glenn Hegar.
Hegar would then be allowed to invest in digital assets that have maintained a market cap of over $500 billion over the last 12 months. Currently, leading crypto Bitcoin (BTC) is the only digital asset that meets this criteria.
SB 21 was initially introduced as a Bitcoin-only bill in January. In the following month, however, it was refiled with amendments that allow the inclusion of other cryptos that meet the market cap criteria.
According to Bitcoin Laws founder Julian Fahrer, the decision around SB 21 should be known before June 2. This is when the legislature will adjourn.
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, 2025
If the bill does get the full floor vote, it will head to Governor Greg Abbott’s for a final decision. Abbott has already expressed his desire to make the Lone Star State the “crypto capital” of the US.
Texas Looks To Join States That Have Signed Bitcoin Reserve Bills Into Law
The Texas vote follows shortly after the governors of Arizona and New Hampshire recently signed Bitcoin reserve bills for their states into law.
Arizona Governor Katie Hobbs approved a bill that allows the state to keep unclaimed crypto and establish a Bitcoin and digital asset reserve. The state can also stake abandoned crypto to earn rewards or receive airdrops.
Similarly, New Hampshire Governor Kelly Ayotte signed House Bill 302 on May 6, allowing the state’s treasury to use funds to invest in cryptos with a market cap greater than $500 billion.
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