Well, well, well, it seems like Texas is about to become the second state in the good ol’ US of A to embrace the mighty Bitcoin Reserve! That’s right, SB 21 just passed its final House reading, and all that stands between it and the history books is a little ol’ signature from Governor Abbott – and he’s not exactly sending smoke signals about his opposition. Nope, he’s all for it.
Now, we all know that the road to crypto glory in the States has been paved with plenty of bumps, but despite a few missteps, the pro-crypto crowd is feeling pretty confident. Texas has gone ahead and borrowed some of that sweet language from New Hampshire’s successful bill – who knew that borrowing was cool again? Future bills might even follow suit. Go figure.
Will Texas Have a Bitcoin Reserve by June 2? Don’t Hold Your Breath…or Maybe Do
Just yesterday, the fine folks in the Texas state legislature voted with the enthusiasm of a cowboy who just spotted a saloon – they approved the state-level Bitcoin Reserve. After months of preparation and a general buzz that could rival a rodeo, the pro-crypto folks were getting all worked up about the vote happening any second. And guess what? Their optimism didn’t go to waste. Surprise, surprise:
“Texas passes Strategic Bitcoin Reserve Bill. SB 21 passes third reading by a vote of 101-42 and now heads to the Governor’s desk for signature,” a crypto policy watchdog chimed in, sounding like a school teacher marking off a homework assignment. The vote went fast, like lightning in a bottle.
Assuming Governor Abbott puts his John Hancock on this shiny new bill, Texas will follow New Hampshire’s lead and join the ranks of states with their very own Bitcoin Reserve. But hold your horses – like New Hampshire’s bill, SB 21 might also open the door to other assets joining the party. If a token manages to hang around with a market cap of $500 billion for two solid years, then it gets a golden ticket to the reserve.
And the crypto regulatory scene isn’t looking too shabby either, as shown by the GENIUS Act’s surprising success this week. If other Bitcoin Reserve proposals take a page from Texas’ playbook, we might just be seeing more victories in the very near future. Giddy up!
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2025-05-21 20:47