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The Texas House of Representatives passed the "Bitcoin Reserve Bill" pending final vote by the entire chamber.
According to Gate.io News bot, Cointelegraph reported that the Texas House’s “Government Efficiency Delivery Committee” has passed the “Bitcoin Reserve Bill” (SB 21). The bill was passed by the Senate on March 6 and is now submitted to the full House for final voting.
The bill proposes the establishment of a “Texas Strategic Bitcoin Reserve”, managed by the Comptroller. The reserve’s investment targets are limited to digital assets with a market capitalization exceeding $500 billion, and currently, only Bitcoin meets this criterion.
After the bill is passed by a vote of the entire chamber, it will be sent to Governor Greg Abbott for signing. Given that the state legislature will adjourn on June 2, the final outcome will be determined in a few weeks.