Texas Bitcoin Reserve Bill Passes Committee 9-0
The Texas Bitcoin Reserve proposal has been unanimously adopted by the Commerce and Commerce Commission and will be held for a Senate vote.
But several similar bills have been easily defeated in other Republican-controlled countries. Even the Republicans in Texas have no unified efforts and may not succeed in the Senate.
Can Texas make a reservation through Bitcoin?
Several U.S. states are trying to pass their own Bitcoin reserves, Will make them the main holders of BTC. When these bills first started introducing, the cryptocurrency community was ecstatic because they would Guaranteed new acquisitions up to $23 billion.
Today, thanks to a Texas committee, another Bitcoin reserve moves forward:
“The SB 21 (Bitcoin Reserves Act) committee has just passed the Commerce and Commerce Commission by 9 to 0. Strategic Bitcoin Reserves head to the Senate floor,” claim Brad Johnson, local journalist.
When the proposal passes the committee vote, it means that a small group of legislators specializing in the subject (here, the Commerce and Commerce Commission) have reviewed it and agreed that it deserves further consideration.
Once the proposal passes the committee stage, it moves to the entire Senate. This is the time for all senators to debate and vote on this. If most senators support the proposal, they can continue to be law.
This news in Texas is a special relief because it is a brand new victory for everyone Bitcoin reserve legislation. At the beginning of this month, they have a strong motivation, Utah has made significant progress.
However, Montana rejects its reserve bill,This is Next are several other red states. In other words, this is the first major crack in the new political alliance of crypto.
New Lieutenant in Texas Strong support for the Bitcoin Reserve Actwhich certainly helps its opportunity. Wyoming’s legislative efforts fail to pass the committee Despite strong support from one of the state’s senators.
A key factor that might help this legislation is Texas One of the largest Bitcoin mining hubs in the United States. At present, the bill has not yet been clarified Authorization Texas buys these assets from local businesses, but it’s easy.
However, for the moment, recent proposals are stinging in various red states. It is not clear what opportunities for the bill are.
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