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Briefly
- The Texas Home was adopted by Senate Bill 21 on a second reading with a vote of 105-23, progressing it for third reading.
- The amendment adopted on Tuesday requires that the Crypto currency be accepted to maintain a market border of $ 500 billion over 24 months.
- If it is brought, Texas could become the second US state to establish a Bitcoin Government -driven reserve after New Hampshire.
Texas House of Representatives voted Tuesday to approve Senate Laws Procedure 21His account for Bitcoin reserve, pushing it to past critical legislative obstacles.
The house began with the adoption of the amendment of Linda Garcia (D-TX) representative, who doubled the required market capitalization period from 12 to 24 months.
Dressed with strong double-sided support, the home brought an account for Senate 21 with votes of 105-23, progressing it on a third reading.
The proposal of the law is a “measure of forward” that would help recognize the digital property “not as a trend, but as a strategic opportunity” the key to “strengthening the fiscal resistance of the state”, Giovanni Capriglione (R-TX), his sponsor of the house, said before the final vote.
Officially called the Texas Strategic Reserve and Investment Act, the Law Proposal establishes a framework for the state supervisor for the maintenance and management of the KRIPTO hosts as a “special fund outside the state treasury”.
Initial discussions and suggestions because he first floated in December last year under HB 1598.
According to the proposed legislation, the reserve can hold bitcoin and potentially other cryptocurrencies as “protection against inflation and economic volatility”, according to the text of Bill Version of the House Committee.
The supervisor must also submit a report every two years to the legislation on cryptocurrency, their value and any changes at that time. The counseling committee, including cryptocurrency experts, will guide the supervisor in the management of the reserves.
Progress on Texas’s Bitcoin Reserve Act has been coming for about two years since the Lone State State established itself as Chief crypto mining centerConsistent ranking as a top choice for a crypto mining company across the USA
Still, the account requires a third reading in the home.
Because it has been modified, all differences between the version of the home and the Senate should reconcile before the final approval of both chambers.
Only then would he head to the governor’s table, potentially establishing an American second state reserve Bitcoin after New Hampshire earlier this month.
The Arizona State would follow but her governor pushed your Bitcoin accountwith only a companion Bill for an unpublished cryptocurrency passing two days later.
Edited Sebastian Sinclair
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