Texas has introduced a second crypto reserve bill, which still marks an important step to integrate Bitcoin into his financial framework.
By one document Published on 11 March, the proposed legislation, HB 4258, wants to assign a maximum of $ 250 million from the Economic Stabilization Fund of the State for Bitcoin and other digital assets.
This marks the second attempt by the State to set up a digital asset reserve, after the earlier SB 778, which recently obtained two -part support in the Senate.
In contrast to the previous proposal, Caps HB 4258 explicit investments and extends participation in municipalities and provinces, so that they can allocate up to $ 10 million to digital assets. If approved and signed in the law, the bill will take effect on 1 September 2025.
The urge of Texas for a Bitcoin reserve corresponds to wider trends in the US, where 21 states explore comparable frameworks in various legislative phases. Some states have active proposals, while others still perform evaluations.
President of the Texas Blockchain Council, Lee Bratcher, marked The strategic position of the state for Bitcoin acceptance. He pointed to the Texas Triangle – Houston (Energy), Austin (Tech) and Dallas (capital markets) – as a convergence of industries that makes that Bitcoin integration particularly viable.
The first Bitcoin account from Texas
As mentioned earlier, SB 778 focuses on integrating crypto into the financial system of the State by enabling tax payments and donations in digital assets.
It also tries to impose a five -year limitation on the sale of Bitcoin of the State. With the approval of the Senate that is secured, the bill awaits a decision in the Texas house, expected by 24 May.
In the meantime, the support for the initiative was strong, with the Lieutenant -Governor of Texas, Dan Patrick calling The creation of a Bitcoin reserve a strategic move that could set an example for other states.
He emphasized the decentralized nature of Bitcoin and the finite offer and described it as a valuable possession for the financial future of Texas. Patrick added:
“President Trump has unambiguously stated that he is planning to make the Cryptocurrency capital of the world of the world. His visionary leadership on Bitcoin and digital assets has cleared the way for fast American innovation, and Texas is at the forefront. “
