The deadline for Texas Governor Greg Abbott to sign the Bitcoin (BTC) reserve bill "SB21" is approaching this Sunday, June 22. According to the expert account Bitcoin Laws, if the pro-cryptocurrency Governor Abbott neither signs nor exercises his veto power, the bill will automatically become law due to the Texas Constitution.
The Texas State Senate adopted the committee report for Senate Bill 21, which allows the state government to establish a Bitcoin reserve, with a vote of 24 to 7 on May 31. With the adoption in both chambers, the bill is now awaiting the governor's signature, making it more likely that Texas will become the third state in the nation to hold Bitcoin, following New Hampshire and Arizona.
SB21 aims to establish the "Texas Strategic Bitcoin Reserve," allowing state investments in cryptocurrencies with a market capitalization of over $500 billion. The reserve will be managed by the state comptroller, with the Strategic Bitcoin Reserve Advisory Committee responsible for operational guidance.
The initial investment amount is expected to be in the hundreds of millions of dollars, and the timing and amount of the purchase will be determined based on proven investment criteria. Texas, which has one of the largest economies in the world, is known for its cryptocurrency-friendly environment and is an important state where many Bitcoin miners are based.
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If there is no governor's signature by June 22, it will automatically take effect, Texas Bitcoin reserve bill.
The deadline for Texas Governor Greg Abbott to sign the Bitcoin (BTC) reserve bill "SB21" is approaching this Sunday, June 22. According to the expert account Bitcoin Laws, if the pro-cryptocurrency Governor Abbott neither signs nor exercises his veto power, the bill will automatically become law due to the Texas Constitution.
The Texas State Senate adopted the committee report for Senate Bill 21, which allows the state government to establish a Bitcoin reserve, with a vote of 24 to 7 on May 31. With the adoption in both chambers, the bill is now awaiting the governor's signature, making it more likely that Texas will become the third state in the nation to hold Bitcoin, following New Hampshire and Arizona.
SB21 aims to establish the "Texas Strategic Bitcoin Reserve," allowing state investments in cryptocurrencies with a market capitalization of over $500 billion. The reserve will be managed by the state comptroller, with the Strategic Bitcoin Reserve Advisory Committee responsible for operational guidance.
The initial investment amount is expected to be in the hundreds of millions of dollars, and the timing and amount of the purchase will be determined based on proven investment criteria. Texas, which has one of the largest economies in the world, is known for its cryptocurrency-friendly environment and is an important state where many Bitcoin miners are based.