Senate members of Texas floats the state reserves from Bitcoin

Austin, Texas – Texas can become one of the first states in the country to maintain bitcoin reserves and other cryptocurrencies under new priority legislation before the Texas Senate Committee.

Senate Law 21, which was composed by Senator Charles Chounerner, R-EGERGETOWN, will allow its observer office in Texas to obtain, exchange, manage, and preserve Bitcoin investments, in addition to other encrypted currencies with a marketing fee of at least 500 billion dollars (Senator and said Chlorener The Bitcoin currency just meets this Threshold). The ruling Lotanant Dan Patrick appointed the bill among his legislative priorities.

“This is the reason why people reach alternatives to the currency, because all the currency Fiat finally reaches its natural value, which is the paper on which it was printed,” Senator Chouener said in a session on Tuesday. “We can buy the land, we can buy gold. I think Texas should have the option to assess the best performance in the past ten years.”

The Senate Business and Trade Committee left the suspended bill without voting on Tuesday. However, the committee is expected to pass, given the Republican majority and the fact that Patrick has been named a priority.

Also | Musk, Cruz, Trump: Republicans are pressing Texas Beit to pass the school selection plan

If it passes, Texas could be the first state in the country, the state’s bitcoin reserves. Several states have presented similar legislation this year, as alternative digital currencies take a new life at the federal level, which is represented by the emergence of Elon Musk in the Trump administration, a long -running defender of encrypted currencies.

SB 21 allows the financial observer to maintain bitcoin reserves and has been allocated by the state legislature, as well as through donations that apply to the previous Texas Law on donations or gifts.

“I have great concern with Billionaire Tech Bros who has government branches. I don’t want to happen,” Senator Nathan Johnson, De Dallas said at the session.

During the Tuesday session, Texas Higar’s observer concluded that he was somewhat opposed to the idea of ​​”donating” on a personal level but did not stop saying that he would refuse a direct gift, adding that he would see what legislation standards will be required.

Governor Greg Abbott did not comment specifically on this legislation, but he said in a post on social media in November, “This session should become Texas, the capital of encryption.” Ironically, Patrick only last summer called for more scrutiny towards data mining centers and encryption mining centers, in a long social media publication that deals with predictions from Ercot on the state’s demand for energy that exceeds the offer quickly.

Patrick wrote in June 2024: “We need to take a closer look at these two industries.”