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20 USDT
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Texas Governor Signs Bill Protecting Bitcoin Reserve Fund SB21 Decision Pending
[Chain News] On June 21, it was reported that Texas Governor Greg Abbott signed House Bill 4488 (HB 4488), which aims to protect certain state government funds, including any Bitcoin reserves created outside the state treasury, from being included in general revenue. The bill exempts the reserve fund and other special funds from the obligation to automatically dissolve in 2025.
Texas Governor Greg Abbott has yet to make a decision on Senate Bill 21 (SB21). The bill would authorize Texas to invest in Bitcoin and other crypto assets with a market value of at least $500 billion. Currently, only Bitcoin meets this threshold.
Greg Abbott must sign or veto SB21 by June 22, the bill was submitted to him on June 1. Since the bill was submitted just before the end of the legislative session, under Texas law, he must act within 20 days after the recess.