The Texas State Assembly has passed the Strategic #bitcoin Reserve Bill, which will allow the government to invest directly in Bitcoin ($BTC ).
There has been an important development for the cryptocurrency world, and Texas, one of the largest states in the #US , has passed a law that allows the state government to invest directly in cryptocurrencies. The bill, called the Strategic Bitcoin Reserve (SB 21), gives the state government the authority to create a reserve by purchasing Bitcoin. The bill, which was passed by the Texas Assembly in the second session, only needs the approval of the governor to enter into force.
If the bill becomes law, Texas will be the first US state to adopt Bitcoin as an official reserve. With the bill, the state treasury aims to use Bitcoin reserves as a guarantee against economic uncertainties. This move may also increase the likelihood that other states and countries will accept Bitcoin as an official asset.
This move by Texas may lead other states to review their cryptocurrency policies and take similar steps. Previously, states such as Florida and Wyoming have stood out with crypto-friendly regulations. However, Texas purchasing Bitcoin directly from the state treasury carries a much greater symbolic meaning and may signal a new era.
