Overview

• The Texas House passed Senate Bill 21 on its third and final reading with a 101-42 vote, moving the state closer to creating a Bitcoin reserve.
• The bill establishes a framework for the state comptroller to manage a Bitcoin reserve as a special fund outside the state treasury.
• An amendment requires eligible cryptocurrencies to maintain a $500 billion market cap over a 24-month period.
• The House version reinstated a provision allowing private donations to the reserve, limited to donors domiciled in Texas.
• If enacted, Texas would become the second U.S. state to establish a government-managed Bitcoin reserve, following New Hampshire.