Texas is making headlines with its bold move toward creating a state-managed Bitcoin reserve. Senate Bill 21 (SB-21) has cleared the Senate Banking Committee with a unanimous 9–0 vote and now awaits a full Senate vote. If passed, Texas could become a trailblazer in adopting cryptocurrency as a strategic financial asset.
Key Features of the Bill
Bitcoin Reserve Creation: The bill proposes establishing a Bitcoin reserve as part of the state’s treasury to enhance financial security and hedge against inflation.
5-Year HODL Rule: Bitcoin in the reserve cannot be sold or converted for at least five years, ensuring long-term stability.
Voluntary Contributions: Texans can donate Bitcoin to the reserve fund, avoiding the use of taxpayer money.
Broader Crypto Inclusion: Initially Bitcoin-only, the bill now allows investment in other cryptocurrencies following federal discussions on digital assets.
Read More : https://onthenode.com/uncategorized/texas-bitcoin-reserve-bill-moves-closer-to-reality
Key Features of the Bill
Bitcoin Reserve Creation: The bill proposes establishing a Bitcoin reserve as part of the state’s treasury to enhance financial security and hedge against inflation.
5-Year HODL Rule: Bitcoin in the reserve cannot be sold or converted for at least five years, ensuring long-term stability.
Voluntary Contributions: Texans can donate Bitcoin to the reserve fund, avoiding the use of taxpayer money.
Broader Crypto Inclusion: Initially Bitcoin-only, the bill now allows investment in other cryptocurrencies following federal discussions on digital assets.
Read More : https://onthenode.com/uncategorized/texas-bitcoin-reserve-bill-moves-closer-to-reality
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