Texas House passes Bitcoin reserve bill, heads to the Governor’s desk for signature
Texas lawmakers approved legislation to establish a state-level strategic Bitcoin (BTC) reserve on May 21 after a 101‑42 House vote, according to the House livestream.
The SB 21 bill is now only pending the approval of Governor Greg Abbott before it can become law.
Bitcoin reserve
The proposal allows the state comptroller to acquire Bitcoin using surplus General Revenue, subject to reporting rules that mirror those applied to gold bullion held in the Texas Bullion Depository.
Congressman Giovanni Capriglione, one of the bill’s primary sponsors, told colleagues during floor debate ahead of the tally:
“Today is a pivotal moment in securing Texas’ leadership in the digital age with the passage of our strategic Bitcoin reserve. Now we embrace a modern asset with traditional properties, but future promise.”
He added that a Bitcoin reserve not only strengthens Texas’s fiscal sovereignty but also positions the state as a forward‑thinking region prepared for the evolution of global finance.
Once SB 21 reaches his desk, Governor Abbott has 20 days to sign or veto it. If the governor takes no action, the bill will become law without a signature on the first business day thereafter.
As a result, Texas would become the third US state to direct public funds into Bitcoin as part of a strategic reserve framework, following Arizona and New Hampshire.
The US state would initiate Bitcoin purchases only after the comptroller publishes procurement guidelines in the Texas Register and secures a storage contract that satisfies the statute’s location requirement.
Legislative pathway
The Senate cleared SB 21 on March 6. Sen. Charles Schwertner, the bill author, argued that allocating a slice of Texas’s available cash to Bitcoin can protect purchasing power during monetary shocks.
Under the text advanced to the governor, the comptroller must disclose acquisition dates, unit counts, and aggregate cost basis each quarter.
The legislation does not impose a dollar‑denominated cap. Still, it requires holdings to be custodied with a qualified entity inside Texas or within a US jurisdiction that recognizes Bitcoin as property.
The bill also instructs the comptroller to study potential revenue streams tied to network participation, including Lightning‑enabled payment rails for state fees.
Those findings are due to the House Appropriations Committee by January 2026, setting up a review ahead of the 89th Legislature.
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Texas House passes Bitcoin reserve bill, heads to the Governor’s desk for signature
Texas lawmakers approved legislation to establish a state-level strategic Bitcoin (BTC) reserve on May 21 after a 101‑42 House vote, according to the House livestream.
The SB 21 bill is now only pending the approval of Governor Greg Abbott before it can become law.
Bitcoin reserve
The proposal allows the state comptroller to acquire Bitcoin using surplus General Revenue, subject to reporting rules that mirror those applied to gold bullion held in the Texas Bullion Depository.
Congressman Giovanni Capriglione, one of the bill’s primary sponsors, told colleagues during floor debate ahead of the tally:
“Today is a pivotal moment in securing Texas’ leadership in the digital age with the passage of our strategic Bitcoin reserve. Now we embrace a modern asset with traditional properties, but future promise.”
He added that a Bitcoin reserve not only strengthens Texas’s fiscal sovereignty but also positions the state as a forward‑thinking region prepared for the evolution of global finance.
Once SB 21 reaches his desk, Governor Abbott has 20 days to sign or veto it. If the governor takes no action, the bill will become law without a signature on the first business day thereafter.
As a result, Texas would become the third US state to direct public funds into Bitcoin as part of a strategic reserve framework, following Arizona and New Hampshire.
The US state would initiate Bitcoin purchases only after the comptroller publishes procurement guidelines in the Texas Register and secures a storage contract that satisfies the statute’s location requirement.
Legislative pathway
The Senate cleared SB 21 on March 6. Sen. Charles Schwertner, the bill author, argued that allocating a slice of Texas’s available cash to Bitcoin can protect purchasing power during monetary shocks.
Under the text advanced to the governor, the comptroller must disclose acquisition dates, unit counts, and aggregate cost basis each quarter.
The legislation does not impose a dollar‑denominated cap. Still, it requires holdings to be custodied with a qualified entity inside Texas or within a US jurisdiction that recognizes Bitcoin as property.
The bill also instructs the comptroller to study potential revenue streams tied to network participation, including Lightning‑enabled payment rails for state fees.
Those findings are due to the House Appropriations Committee by January 2026, setting up a review ahead of the 89th Legislature.
The post Texas House passes Bitcoin reserve bill, heads to the Governor’s desk for signature appeared first on CryptoSlate.
Read More