Texas lawmakers authorized laws to determine a state-level strategic Bitcoin (BTC) reserve on Might 21 after a 101‑42 Home vote, in keeping with the Home livestream.
In response to Bitcoin Legal guidelines, the SB 21 invoice now must be authorized once more within the Senate with the Home’s added amendments. The Senate authorized the earlier iteration of the invoice with a 25-5 vote in favor on March 5.
Following the Senate vote, the laws shall be despatched to Governor Greg Abbott’s desk for his ultimate approval earlier than it will probably turn into regulation.
As soon as SB 21 reaches his desk, the Governor may have 20 days to signal or veto it. If the governor takes no motion, the invoice will turn into regulation with no signature on the primary enterprise day thereafter.
Bitcoin reserve
The proposal permits the state comptroller to amass 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, advised colleagues throughout ground debate forward of the tally:
“Right this moment 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 additionally positions the state as a ahead‑considering area ready for the evolution of worldwide finance.
If authorized by the Governor, Texas will turn into 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 writer, argued that allocating a slice of Texas’s out there money to Bitcoin can shield buying energy throughout financial shocks.
Below the textual content superior to the governor, the comptroller should disclose acquisition dates, unit counts, and combination price foundation every quarter.
The laws doesn’t impose a greenback‑denominated cap. Nonetheless, it requires holdings to be custodied with a professional entity inside Texas or inside a US jurisdiction that acknowledges Bitcoin as property.
The invoice additionally instructs the comptroller to review 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.
