Governor Greg Abbott signed a bill into law allowing Texas residents to use precious metals for “day-to-day financial transactions” starting in May 2027.
Texas News
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Texas becomes the first US state to commit public funds to a standalone Bitcoin reserve, aiming to treat BTC as a long-term strategic asset.
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Texas Representative Brandon Gill faces scrutiny after filing late disclosures for $500,000 in Bitcoin trades, as questions over timing and STOCK Act violations arise.
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Governor Greg Abbott posted to his official X account on May 22, roughly a day after the legislature passed a bill to create a strategic Bitcoin reserve in Texas.
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If signed into law, the bill would allow the Texas comptroller to establish a Bitcoin reserve and invest in select cryptocurrencies based on market cap criteria.
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A Bitcoin reserve bill passed by the Texas Senate has made progress in the House, advancing out of committee to head to the floor.
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MARA Holdings and the head of digital assets research at VanEck endorsed the FLARE Act proposed by Texas Senator Ted Cruz on April 1.
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ARK Invest participated in Apptronik’s $403 million Series A round, joining Mercedes-Benz, Google, and Japan Post Capital to fund humanoid robotics innovation.
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A House bill filed by a Texas Democrat proposed the state’s comptroller wouldn’t be able to invest more than $250 million in crypto.
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According to Bitcoin Laws, a total of 32 Bitcoin strategic reserve bills have been introduced in 24 US states at the time of writing.
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This week, four different states introduced crypto-related bills, bringing the number of US states to introduce such legislation up to nine in February alone.
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The bill “would make our state the first to establish a Strategic Bitcoin Reserve and drive innovation, growth, and financial freedom,” said Senator Schwertner.
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Arizona’s Bitcoin reserve bill aims to enable public funds and pensions to invest in Bitcoin, marking a significant shift in cryptocurrency adoption and financial strategy.
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The payments firm said with the addition of the two US states, it held more than 50 licenses across different jurisdictions.
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In a win for crypto privacy technologies, a US court in Texas has overturned Tornado Cash sanctions.
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