2W
...
Texas lawmakers have taken a significant step toward financial innovation by unanimously passing Senate Bill 21 through the Senate Banking Committee. This landmark legislation mandates the Texas Comptroller of Public Accounts to acquire manage and trade Bitcoin and other cryptocurrencies to safeguard the state’s financial reserves against inflation and economic uncertainty.
The bill introduced by State Sen. Charles Schwertner has been expanded from its original focus on Bitcoin to include various digital assets in response to President Trump’s executive order on national digital asset evaluation. Advocates like Pierre Rochard of Riot Platforms have praised Bitcoin’s ability to provide financial stability highlighting its transparent and auditable nature as ideal for public financial management.
As states like Oklahoma Arizona and Utah propose similar initiatives Texas stands out with its proactive approach in potentially establishing a crypto reserve aiming to fortify its economic resilience. This move signals a growing trend of states considering digital assets as viable tools for economic diversification and inflation protection.
