The project will now be discussed in the Senate's plenary and if approved, it will go to lower house. Texas's proposal is in the same status as those of Arizona and Oklahoma. Texas SB 21 bill, which raises the creation of a strategic Bitcoin (BTC) reserve, advanced in its legislative process and is now closer to its goal after being approved unanimously by the Senate Business and Commerce Committee. According to the vote, this project, presented by Congressman Charles Schwertner, received 9 votes in favor and none against. With this result, the project It becomes discussed in the Senate plenary Where, if approved, it will be sent to the lower house to continue its process in search of becoming law. In general, several steps are still missing, such as the discussion in the lower house committee and then in its plenary. All this before reaching the signing of the Governor of Texas, who would promulgate the project as a state law.
The SB 21 project seeks to establish and administer the Bitcoin Strategic Reserve of Texas, with the aim of investing in this digital asset and granting authority to the Comptroller of Public Accounts on the management of this reservation and other state funds, in an effort to integrate digital assets in public finances of the State.
The SB 21 project seeks to establish and manage the Bitcoin Strategic Reserve of Texas. Source: Bitcoin Laws. With this advance, Texas aligns with similar proposals from Arizona and Oklahoma, who also seek Bitcoin treasures. These projects begin to approach their goals after weeks of legislative discussions, In a context where Bitcoin reserves gain ground in the United States.
In Oklahoma, the bill, which follows a line similar to that of Texas, was approved on Wednesday, February 26 by the Government Supervision Committee of the lower house, as cryptootics reported. Now he expects his discussion in the plenary of that camera.
Meanwhile, in Arizona the initiatives advance at a comparable pace. This reflects a growing interest among states to adopt BTC as part of their financial strategies. Although not all efforts have prospered, since at least five projects of this type have failed in their legislative processes In different states. The rise of Bitcoin reserves in the United States responds to a trend that combines technological innovation with state economic policies. And in the case of Texas, the SB 21 represents a step towards the diversification of its assets by incorporating BTC into a strategic fund. According to the defenders of the proposal, Bitcoin is a tool to strengthen the local economy.
The SB 21 path in Texas still faces challenges, since after its possible approval in the Senate plenary, it must be analyzed by the corresponding committee in the lower house, where its implications will be evaluated before moving on to the discussion in plenary. Texas with SB 21 seeks Senate marks a milestone in that effortwhile the project prepares to face the next legislative evidence.