Texas Senate passes Bitcoin strategic reserve bill
The Texas Senate passed the Bitcoin (BTC) strategic reserve bill SB-21 in a 25-5 vote on March 6, after deliberating the merits of the legislation on the Senate floor.
Texas State Senator Charles Schwertner argued for the bill, saying that it would help the US state shore up its balance sheet with a valuable, scarce asset.
Lawmakers also assuaged fears that Bitcoin was a direct competitor to the US dollar as a global reserve currency, adding that it was much more similar to gold.
Texas State Senator Charles Schwertner addresses Texas Senate in support of the bill. Source: Bitcoin Laws
The Texas strategic Bitcoin reserve legislation was introduced by State Senator Charles Schwertner in January 2025 as a Bitcoin-only bill that omitted the acquisition of other digital assets.
However, in February 2025, the bill was refiled to include other digital assets following US President Donald Trump’s Jan. 23 executive order directing a commission to study the feasibility of a “digital asset stockpile.”
Page one of SB-21 establishing a Bitcoin and digital asset reserve. Source: Texas State Senate
This is a developing story, and further information will be added as it becomes available.
[ad_2]
2025-03-06 18:48:06
https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2025-01/01946cd8-fde1-7b71-8c69-f05b5522c084
Texas Senate passes Bitcoin strategic reserve bill
Cointelegraph.com News