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The Texas Strategic Bitcoin Reserve Bill will undergo its second reading in the House on May 20th

2025.05.18 15:56:19

May 18th. As per Dennis Porter, a co-founder of SAF, the Texas Strategic Bitcoin Reserve Bill (SB 21) is set to undergo its second reading in the House on May 20th. This is a crucial step preceding the final vote. In case the bill secures the full House vote before the Texas legislature adjourns on June 2nd, it will be forwarded to the Governor for signing. On March 6, 2025, the Texas Senate passed the SB 21 bill with 25 votes in favor and 5 against, thereby setting the stage for its consideration in the House. On May 8, 2025, the SB 21 bill passed the House Committee without any amendments and moved on to the full House vote stage. The SB 21 bill aims to establish the Texas Strategic Bitcoin Reserve by investing in Bitcoin and other cryptocurrencies. The reserve fund will be composed of appropriations through legislation, dedicated revenues, purchased cryptocurrencies, investment returns, and donations. It will also implement security measures like cold storage. The bill mentions the establishment of an advisory committee to offer investment strategy guidance and mandates the publication of a transparent reserve report every two years.
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