Texas passes new legislation to protect Bitcoin reserves; governor may approve $500 billion cryptocurrency investment plan.

2025-06-21 01:50:30

On June 21, Texas Governor Greg Abbott passed 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 these reserve funds 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). This bill would authorize Texas to invest in Bitcoin and other encryption assets with a market capitalization of at least $500 billion. Currently, only Bitcoin meets this threshold.

According to reports, Greg Abbott must sign or veto SB21 before June 22, which was submitted to him on June 1. Since the bill was submitted just before the end of the legislative session, according to Texas law, he must act within 20 days after the adjournment.

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Mr.Muzi

· 06-21 02:28

Texas Passes New Bill to Protect Bitcoin Reserves, Governor May Approve $500 Billion Crypto Investment Plan [Block Rhythm] On June 21, Texas Governor Greg Abbott passed House Bill 4488 (HB 4488), which aims to protect certain state funds, including any Bitcoin reserves created outside of 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). This bill would authorize Texas to invest in Bitcoin and other crypto assets with a market capitalization of at least $500 billion. Currently, only Bitcoin meets this threshold. It is reported that Greg Abbott must sign or veto SB21 by June 22, with the bill having been submitted to him on June 1.

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