The legislators of the State of Texas have introduced a second Bitcoin reserve account with which the state -computer could invest up to $ 250 million in Bitcoin or other cryptocurrencies.
On March 11, A document On the government of the State of Texas, another Bitcoin (BTC) -Reserve account, HB 4258, has unveiled the ring. This is the second Bitcoin Reserve Bill to be introduced in the state, after Senate Bill 778, which is currently assessed by the house after a majority of votes in the Senate.
In contrast to the first bill, HB 4258 would attribute the main accountant and financial watchdog of Texas, the possibility to invest up to $ 250 million of the economic stabilization balance in Bitcoin or other types of crypto assets.
Not only that, the account also enables municipalities or provinces to invest in Bitcoin or another cryptocurrency, but no more than $ 10 million of its funds can be allocated to Crypto.
The first bill, SB 778, did not indicate the amount of money that the state could invest in Bitcoin or Crypto. Although it did determine that the state would start collecting taxes and donations in cryptocurrency. Moreover, Texas has a minimum five -year embargo on the sale of state bitcoins.
Earlier this month, the Senate approved a proposal to invest public resources in Bitcoin with a vote of 25-2. Texas House will now revise the bill and announce their decision to refuse or approve this at the latest on 24 May. According to the founder of Satoshi Act Fund Dennis Porter, the members of the house can speed up the trial and the proposal on the Governor’s office will soon end up.
According to the Bitcoin Reserve MonitorThere are at least 21 American states that consider strategic reserves about cryptocurrency. Each State is in different stages of legislation on approval, with 19 state legislation still processing, two that still take proposals into account, while five have been rejected.
