A Texas legislative member proposed a bill that could limit the investment amount of local and state officials in crypto currencies as a reserve asset.
In a law proposal filed March 10, a Texas Ron Reynolds representative suggested that the State Apple did not have the authority to invest more than $ 250 million in the Economic Stabillation Fund – otherwise known as the fund. “Rainy Day” – BitCoin (BTC) or other crypto currencies. The proposal has also been provided that Million cannot invest more than 10 million in Texas municipality and Crepto Province.
HB 4258, which was presented by a representative of Texas Ron Reynolds. Source: Texas legal
The bill approved a law to set up a strategic butt coin reserve in the state on March 6, following the approval of the Texas Senate. Based on the recent draft, the SB12 Bill may apparently allow the Texas pale to have no limit on the BTC purchase for the reserve.
The Bitcoin Strategic Reserve’s plan in Texas was one of the many bills proposed by President Donald Trump’s settlement by President Donald Trump and the Republican Member Assembly’s Chamber and the Senate’s victory. In January, Dan Patrick, the deputy government of Texas, said the state legislative priorities for 2025 would include a proposal to set up a Bitcoin Reserve in Texas.
Is there a party division on state and federal projects for Crypto?
It is unclear whether the representative of Renaldis, Democratic, was intended to support the BTC Reserve’s law, introduced by Senator Charles Schwartner, Republican, or that sanctions have been proposed that the proposal has become a law. If Governor Greg Abbott is approved and signed, the law will be implemented on September 1. The Santal Graf contacted the Reynolds’ representative’s office for a comment, but no response was received at the time of publication.
Although Trump on March 7 signed an executive order for the establishment of a “Strategic BitCoin Reserve” And a “Digital Asset Storage” At the federal level, many legal experts have questioned the authority of the United States President to issue specific policies through EOS. On March 11, the senator of the Woming Cynthia Lumis re -presented the BTC Reserve’s proposal in the Senate to be encoded in the law.
