In Texas adopted a law on bitcoin reserve. The corresponding bill SB 21 was signed by Greg Abbott Greg Abbott.
The Block noted that, unlike Arizona and New Hampshira, where such initiatives have a different structure, Texas reserve will be funded directly from the budget. To manage the fund is entrusted to the controller on the public accounts of the state.
The Governor of Texas also signed another document – the HB 4488. The law protects the reserve from the possible removal of funds in favor of the general budget. It also guarantees the legal existence of the fund even if before the summer of 2025 bitcoins are not acquired, the report said.
Texas Blockchain Council, President Lee Bretcher said he was waiting for an investment of tens of millions of dollars. According to him, the decision on the purchase will be made exclusively by professionals from the office of the controller.
Journalists noted that not one of the above bills fell into a press release from the governor dedicated to 16 “key” initiatives.
Recall, about a month before the signing of the bill Ebbott, the House of Texas representatives approved the SB 21 bill on the creation of a strategic bitcoin reserve.
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Source: Cryptocurrency
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