Main meals
- Texas lawmakers review the Senate Law 21 to create a bitcoin reserve managed by the state.
- The draft law is part of Texas’s broader policies, making it the third American country to create the Bitcoin Reserve.
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The House of Representatives in Texas will retain a major reading of the Senate Law 21 (SB 21), which approaches the state one step to establish a bitcoin reserve run by the government, according to an update on the draft law Official page.
Dennis Porter, co -founder and CEO of the Satoshi Labor Fund, said in a statement on Saturday that the second reading is the “necessary step” before the final vote, given that the Legislative Board of Texas is traveling in less than two weeks, leaving a narrow window to obtain the bill via the finish line.
Bitcoin strategic reserves in Texas on board!
The second reading will come on May 20, which is the necessary step before you go to vote the final floor.
Time runs out. The Legislative Council will postpone two weeks! pic.twitter.com/Mn0Lhakyl
– Dennis Porter (Dennis_porter_)) May 17, 2025
If SB 21 wipes this reading at home, it is expected to quickly move to the third reading and vote on the final floor. If it is passed, the bill will go to the ruler’s office to sign.
The proposed legislation has already cleared two main drugs, as the Senate in Texas was passed in a vote 25-5 on March 6 and made through the House of Representatives Committee on 9-4 voting on May 7, without any amendments.
SB 21The title of the Bitcoin Strategic Reserve Law for Investment and Investment in Texas, by Senator Charles Schwentar and his righteousness in the House of Representatives by actor Giovanni Capriegelone. It would allow the state to buy, preserve and manage Bitcoin as part of the government’s reserves.
This initiative is designed to treat bitcoin as a strategic financial asset-one of which can serve as a hedge against inflation and economic volatility, while enhancing the long-term financial flexibility.
The reserve will be funded by a mixture of legislative credits, investment profits and voluntary donations from Texas. It will also include any Bitcoin or other eligible encryption assets that have been received via Forks or Airroprops.
However, the draft law defines strict civil criteria: any digital assets obtained for reserves must have maintained the market value of no less than $ 500 billion over the past 12 months, a threshold that Bitcoin is currently currently matched.
If a year, Texas will become a third American state to establish a bitcoin official, as it joined New Hampshire and Arizona.
New Hampshire became the first American state to create a strategic bitcoin reserve after the House Law 302 (HB 302) passed on May 6.
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