Texas, one of the leading states in the US in technology and financial innovation, is preparing to take an important step in the field of cryptocurrencies.
The Texas Strategic Bitcoin Reserve Act (SB 21) will receive a second reading in the House of Representatives on May 20. This process is a mandatory step for the bill to be brought to a final vote.
Satoshi Action Fund (SAT) co-founder Dennis Porter announced on social media that SB 21 is moving forward in the House. If the bill passes a full vote in the House before the end of the legislative session on June 2, it will be submitted to the Texas Governor for approval.
SB 21 was first passed by the Texas Senate on March 6, 2025, with a vote of 25 yes and 5 no. The bill was then referred to the House of Representatives, where it passed the Committee stage without any changes on May 8, 2025, and was brought to the floor of the House for a floor vote.
The bill would establish a Texas Strategic Bitcoin Reserve at the state level. The reserve fund would be funded by legislative appropriations, private revenue sources, purchased crypto assets, investment income, and donations. Advanced security measures such as cold storage would be implemented.
The law will also require the establishment of an advisory committee to provide strategic guidance on the fund's management and the publication of a transparent reserve report every two years.
*This is not investment advice.
