Representative Texas Provided a bill for Reducing investments in Bitcoin and encrypted currencies By local authorities and authorities. The measure is adjusted The maximum of $ 250 million For investments in Digital assets Before cashier.
Texas proposes restrictions on investments in Bitcoin and encrypted currencies
on March 10actor Ron ReynoldsAnd a member Democratic Party, invoice to An end to the state’s investments in Bitcoin and other cryptocurrencies. The proposal states that State observer in Texas It cannot be customized more than 250 million dollars from Economic Stability FundAlso known as “Rainy day”to buying Bitcoin Or other digital assets.
Moreover, the legislative text also provides The maximum local entityMunicipalities and provinces in Texas You will not be able to invest more than 10 million dollars in Criptovalute.
If the proposal is approved and signed by the ruler Greg AbbottIt will enter into force on September 1, 2025.
The context of the proposed law
The suggestion before Reynolds It comes a few days after approval SB 21 invoice by Senate in TexasThat happened March 6. This measure aims to Creation a Bitcoin strategic reservesWithout submitting The boundaries of purchases by the state.
Project a Bitcoin Reserve It is part of a wider set of Legislative initiatives It was recently presented in US. Some countries are trying to adopt strategies Merging cryptocurrencies into governmental economic and financial operations. in TexasRuler Lieutenant Dan Patrick I mentioned in January This is one of Legislative priorities for 2025 It will be exactly Create the Texas Bitcoin Reserve.
Political discussion on the use of cryptocurrencies in the United States
It is not clear if it is Ron Reynolds Intend Support or reduce the SB 21 billServed before Republican Senator Charles Chounerner. However, his proposal indicates a Organizing more restricted Compared to the original scale Approved by the Senate.
On the federal level, even The United States government He thinks Similar initiatives. on March 7The former president Donald Trump Fell Executive order to Create a “strategic bitcoin reserve” and “digital asset reserves” On the national level. However, several Legal experts Raised Questions about legitimacy from The executive procedure To organize Crossed currency investments without Congress approval.
In the same days, Senator from Wyoming Sinaia Lomes Re -submitting an invoice to Entrepreneur inside United States legislation.
What could be the effects of the law in Texas?
If the regulation is on Reducing investments in Bitcoin It could be approved, it could be Great effects to Digital assets in Texas. The country is one of Most of the open judicial states Towards Cross currenciesThanks to the presence Advanced mining infrastructure and Coordinated regulations.
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A Specific restrictions of $ 250 million on Funding It can reduce State Chamber for maneuvering to Diversify its financial reserves. Moreover, and Reducing 10 million dollars to Municipalities and provinces Be able to It hinders local initiatives Aim Merging cryptocurrencies into municipal budgets.
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On the other hand, this procedure represents an attempt to do so Risk Associated Current currency fluctuationsprotection Government Emergency Fund Of the capabilities Market fluctuations.
conclusion
the Legislative initiative Give it Ron Reynolds Group a A strict limit on government and local investments in encrypted currenciesFacing A wider strategy Suggest Senate in Texas. the debate between Supporters and opponents Subordinate Bitcoin state reserves It is expected to continue For weeks to comewhile Other American countries They study Similar measures.
It remains to see if this is The proposal will receive the necessary support to Become law And how It will affect the financial scene in Texas.