Texas is advancing SB 21 to establish the nation's first state-managed Bitcoin reserve.
New Hampshire leads in adoption while Florida retracts Bitcoin investment bills.
As the momentum surrounding Bitcoin [BTC] adoption at the state level fluctuates across the United States, Texas is reinforcing its commitment.
Although many states have cooled off after Donald Trump's federal Bitcoin Reserve proposal, Texas is moving forward.
Texas moves forward with the Bitcoin Reserve proposal
The Texas House Government Efficiency Committee recently advanced Senate Bill 21, proposing to create the 'Texas Strategic Bitcoin Reserve.'
With the bill having passed the Senate, only a full vote in the House remains for Texas to become the first state to officially establish a Bitcoin reserve managed by the state treasurer.
Pierre Rochard, CEO of the Bitcoin Bond Company, remarks,
"The Texas House Committee has approved SB 21, the next steps are the House vote and the governor's signature. There is a strong likelihood that Texas will have a Strategic Bitcoin Reserve, the big open question is how much BTC will be purchased."
Initially introduced in January by Republican Senator Charles Schwertner as an exclusive BTC measure, Senate Bill 21 has since evolved to potentially include other digital assets.
The amended version, reloaded in February, reflects a broader approach to the state-level digital asset strategy.
Julian Fahrer, founder of Bitcoin Laws, adds that the fate of the bill is likely to be decided before the Texas legislature adjourns on June 2.
Source: Julian Fahrer/X
Meanwhile, the recent rise in BTC price, trading at $99,637.37 as this article is written, after a 2.72% increase in 24 hours, adds momentum to the relevance of the bill as the leading cryptocurrency approaches the $100K mark.
Other states and differing views on Bitcoin
Besides Texas, several U.S. states are ramping up their engagement with Bitcoin and digital asset strategies.
For instance, on May 6, New Hampshire set a national precedent by officially enacting a Bitcoin reserve bill, receiving praise from Governor Kelly Ayotte for leading the way.
Meanwhile, North Carolina has made significant strides towards cryptocurrency integration as the House passed the 'Digital Assets Investment Act' (HB92) with a vote of 71–44.
Additionally, on May 7, Arizona Governor Katie Hobbs signed Bill 2749 into law. This establishes the state's first Bitcoin and Digital Asset Reserve Fund.
The goal of the fund is to manage unclaimed digital asset holdings, rather than new investments. Her decision follows a veto of a more ambitious reserve proposal.
However, while some states are moving forward with Bitcoin adoption, others are hesitating.
Florida, once seen as a potential leader in integrating BTC into the state treasury, has quietly paused its ambitions.
The state officially withdrew two companion bills: HB 487 and SB 550, aimed at allocating up to 10% of specific public funds into Bitcoin, as the legislative session ended on May 3.
This move reflects a more cautious attitude amid the broader national debate on the role of cryptocurrency in government finance, signaling that not all regions are ready to embrace digital assets at this time.
Source: https://tintucbitcoin.com/texas-sap-tao-quy-du-tru-bitcoin-chinh-thuc/
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