Texas forms Strategic Bitcoin Reserve Advisory Committee, seeking direct custody of Bitcoin

robot
Abstract generation in progress

Deep Tide TechFlow News, May 29, according to The Block, Texas Acting Auditor Kelly Hancock officially appointed four external members to join the Strategic Bitcoin Reserve Advisory Committee. The committee was established under Senate Bill No. 21, with members including CleanSpark President and CFO Gary Vecchiarelli, Bitcoin mining company Cormint founder and CEO Jamie McAvity, Southern Methodist University Law Professor Carla Reyes, and investment executive Laurie Dotter, who will advise the auditor on Bitcoin valuation, custody, and risk management.

Currently, Texas has established a $10 million initial position through BlackRock's IBIT Bitcoin ETF and has issued a proposal seeking service providers to assist in converting the reserve assets from IBIT to direct Bitcoin holdings. Texas is the third state in the United States, after Arizona and New Hampshire, to legislatively establish a strategic Bitcoin reserve.

BTC0.78%
IBIT-2.1%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned