Texas is very likely to become the second American state with a Bitcoin reserve, now that SB 21 has passed the reading of the final house. Only the governor’s signature is between her and becoming a law, and he reported his support.
Despite recent setbacks, pro-Crypto legislative efforts in the United States seem strong. Texas has adopted the language of the successful effort of New Hampshire, and future bills could do the same.
Texas could have a bitcoin reserve by June 2
Bitcoin has dominated the titles of cryptography today with record developments. Earlier in the day, the largest cryptocurrency has reached a new summit of all time at $ 109,000. At the same time, BTC exceeded Google and Amazon in market capitalization.
Now Texas has marked another important step for the assets.
Yesterday, the legislature of the state of Texas voted massively to approve a reserve of bitcoin at the level of the state. This follows months of preparation, representing a continuous level of enthusiasm.
Pro-industrial observers thought that the final vote could take place today, and it seems that this optimism was justified:
Assuming that governor Greg Abbott signs the bill, Texas will become the second American state with its own Bitcoin reserve. As the New Hampshire measurement, SB 21 could also allow assets other than Bitcoin to enter the reserve.
The bill mentions that any asset must maintain a market capitalization of $ 500 billion for 24 months to become eligible for the state reserve. Currently, only Bitcoin makes this cut.
Pro-Crypto regulation efforts are always solid, as evidenced by the improbable success of the law on engineering this week. If other Bitcoin reserve proposals learn from the example of Texas, the movement could see more success in the near future.
However, it is important to understand that the approval of the Governor of the State is not guaranteed and that the bill could collapse without him. Earlier this month, the governor of Arizona, Katie Hobbs, vetoed the Bitcoin Reserve Bill of the State, who saw bipartite support in the House.
The Texas Senate session will end on June 2, and Governor Abbott potentially decided to decide this bill.
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