The state of Texas has passed a new law devised to protect its BTC and cryptocurrency holdings from liquidation. Governor Greg Abbott signed House Bill 4488 (HB 4488), securing the state’s digital asset reserves by providing they are not treated as traditional government funds. This legislative move standardizes the state’s recognition of cryptocurrency as a separate financial category. The law prevents these digital holdings from being sold off involuntarily during fiscal planning periods or financial shifts.
The governor signed HB 4488, which came into force and entrenched the safety of cryptocurrencies held by the state. The law will make sure that the property is undisturbed until there is specific authorization to do so under certain conditions. Before, these funds were under a threat of forced liquidation by the state bodies or by budget-penetrating actions.