The MPs of the state of Texas have introduced a second bitcoin reserve bill that will allow the state controller to invest up to $ 250 million in bitcoin or other cryptocurrency.
On March 11, A document The site of the state government of Texas shows that another bitcoin (BTC) Reserve Bill, HB 4258, has entered the ring. This is the second bitcoin reserve bill to be introduced in the state after the Senate Bill 778, which is currently being reviewed by the House after passing the majority vote in the Senate.
Unlike the first bill, HB 4258 Comptroller will provide the chief accountant and financial sentinel to Texas, the ability to invest up to $ 250 million of the state’s economic stabilization fund balance in bitcoin or other types of crypto assets.
Not only this, the bill allows municipalities or counties to invest in bitcoin or any other cryptocurrency, but more than $ 10 million funds cannot be allocated to Crypto.
The first Bill, SB 778, did not specify the amount of funds that the state could invest in bitcoin or crypto. However, it was determined that the state would start collecting taxes and donations in cryptocurrency. In addition, Texas has a minimum five -year ambergo on selling bitcoins in Texas.
Earlier this month, the state Senate approved the proposal to invest public funds in bitcoin with 25–2 votes. The Texas House will now review the bill and announce its decision to reject or approve it by 24 May. According to Dennis Porter, founder of Satoshi Act Fund, house members may accelerate the process and soon put off the proposal on the governor’s desk.
Bitcoin according to reserve monitorThere are at least 21 American states that are cultivating the cryptocurrency strategic stores. Each state law is in different stages of approval, 19 state legislations are still pending, two are still considering proposals, while five have been rejected.
