Texas Signs Strategic Bitcoin Reserve Into Law

Texas has become the third US state to formally create a Strategic Bitcoin Reserve with the historic signing of SB 21 into law. Armed with the newly minted law, the state of Texas will buy and hold Bitcoin via the office of the state comptroller.

Texas Creates Strategic Bitcoin Reserve Into Law

Emerging reports from Satoshi Act Fund CEO Dennis Porter indicate that Texas Governor Greg Abbott has signed the Bitcoin Reserve bill into law. The signing formally creates a Strategic Bitcoin Reserve for the Lone Star State, bringing an end to a lengthy legislative process.

Back in May, Texas senators passed the bill for a Strategic Bitcoin Reserve after its third reading in a majority 101-42 vote. The latest development sees the pro-Bitcoin Governor sign the bill into law after a bout of legislative horse trading.

Right off the bat, the new law establishes a state-level Bitcoin Reserve, authorizing the Texas Comptroller of Public Accounts to invest in the cryptocurrency. The SB 21 bill, signed into law, designates the reserve as a special fund outside the state’s treasury, supporting cryptocurrency investments.

This is a developing story and will be updated as facts become clearer.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

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