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Texas lawmakers resubmit Bitcoin Reserve Act to expand to include other cryptocurrencies
02-14 06:04

Odaily News Texas lawmakers have reintroduced a bill to establish a strategic Bitcoin reserve, now designated SB 21, which allows investments in additional cryptocurrencies. Senator Charles Schwertner announced the bill on February 12, emphasizing that it would make the state the first to establish a cryptocurrency reserve, potentially promoting innovation and "financial freedom." The new legislation builds on SB 778, an old bill introduced in January that focused on Bitcoin. SB 778 restricted state governments to buying and holding Bitcoin and not using it for other operations, while SB 21 expands the scope to allow investments in cryptocurrencies that maintain a market value of at least $500 billion over the course of a year. However, Bitcoin is currently the only cryptocurrency that meets this criterion. (Jinshi)

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