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Texas State House of Representatives

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has voted to pass a bill regarding the state's Bitcoin reserves.

The bill will establish a legal framework for the state of Texas to store Bitcoin and possibly other cryptocurrencies. The management of the reserve fund, including buying, selling, or holding, will fall under the authority of the State Comptroller.

According to state regulations, Governor Greg Abbott will have 10 days to sign the law, veto it, allow it to take effect automatically without a signature, or return the bill. However, with the overwhelming voting results in the House, it is likely that the state legislature can easily override a veto if necessary.