The Texas legislator in the United States resubmits a Bitcoin reserve bill, expanding it to include other cryptocurrencies
Odaily Planet Daily reports that a Texas congressman has reintroduced a bill aimed at establishing strategic Bitcoin reserves. The bill, now designated as SB 21, allows for investment in additional cryptocurrencies. Senator Charles Schwertner announced the bill on February 12th, emphasizing that it would make the state the first to establish cryptocurrency reserves and could potentially drive innovation and "financial freedom".
This new legislation builds on SB 778, an older bill introduced in January of this year primarily targeting Bitcoin. The SB 778 law restricts state governments to only purchasing and holding Bitcoin without using it for other operations. In contrast, SB 21 expands this scope by allowing investments in cryptocurrencies with a market value of at least $500 billion maintained throughout the year. However, currently, Bitcoin is the only cryptocurrency that meets this standard.
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