The proposed legislation creates a special fund allowing Texans to voluntarily donate Bitcoin, with the state committing to hold these digital assets for a minimum of five years.
The bill mandates the Texas comptroller to manage the reserve using cold storage solutions and implement strict security protocols. These measures would prohibit transactions with foreign entities or individuals linked to illegal activities.
Key provisions include authorizing state agencies to accept cryptocurrencies — converting them to Bitcoin for the reserve — and requiring biennial reports detailing holdings, performance, and security measures.
The bill requires approval from the Texas Legislature and the governor’s signature.
If passed, the law would take effect by September 1, 2025, with an expiration date set for September 1, 2035.
If it passes, it would further signal growing institutional acceptance of cryptocurrency in the US and beyond, as well as lead to potential increased regulatory clarity in public sector financial operations.
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