TexasSignedBitcoinLaw
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#TexasSignedBitcoinLaw Texas Governor Greg Abbott has signed the "Bitcoin Reserve Act," making Texas the first U.S. state to establish a Bitcoin treasury. The reserve will initially hold $500 million worth of BTC purchased via state mining credits.
The law mandates annual contributions to the reserve using surplus funds from oil royalties and state energy revenues. It also grants tax incentives to companies that settle transactions in BTC.
Texas Comptroller Glenn Hegar said the move strengthens the state's financial sovereignty. "We're backing the next frontier of monetary independence," he stated at the Capitol.
The law mandates annual contributions to the reserve using surplus funds from oil royalties and state energy revenues. It also grants tax incentives to companies that settle transactions in BTC.
Texas Comptroller Glenn Hegar said the move strengthens the state's financial sovereignty. "We're backing the next frontier of monetary independence," he stated at the Capitol.
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