AUSTIN, Texas — The Texas House of Representatives passed legislation on May 21 to create a state-level Bitcoin (BTC) strategic reserve, advancing a proposal that could position Texas as a leader in cryptocurrency adoption. The bill, SB 21, cleared the House with 101 votes in favor and 42 against.
The measure now returns to the Texas Senate for concurrence on House-added amendments. The Senate had previously approved an earlier version of the bill on March 5 by a vote of 25–5. If the Senate agrees to the changes, the bill will proceed to Governor Greg Abbott’s desk for final approval.
Under Texas law, the governor has 20 days to sign or veto the bill once received. If no action is taken, it will automatically become effective on the first business day after the 20-day period.
Key Provisions of the Bill
The legislation authorizes the Texas Comptroller to allocate surplus state funds toward purchasing Bitcoin, subject to the same reporting requirements applied to the state’s gold reserves.
State Representative Giovanni Capriglione, a primary sponsor of the bill, emphasized its significance during floor debate: “Passing the Strategic BTC Reserve bill solidifies Texas’ leadership in the digital age. Bitcoin merges traditional value with future potential, offering fiscal sovereignty and forward-looking financial preparedness.”
If enacted, Texas would become the third U.S. state—following Arizona and New Hampshire—to integrate Bitcoin into its public reserve framework.
Implementation Requirements
Before acquiring Bitcoin, the Comptroller must:
Publish procurement guidelines in the Texas Chronicle.
Secure a storage contract compliant with the bill’s location mandates, requiring custody within Texas or another U.S. jurisdiction that recognizes Bitcoin as legal property.
Legislative Background
The Senate initially passed SB 21 on March 6, with sponsor Senator Charles Schwertner arguing that Bitcoin reserves could safeguard Texas’ purchasing power during economic instability.
The bill mandates quarterly disclosures from the Comptroller, including acquisition dates, quantities, and cost basis of Bitcoin holdings. While no dollar-denominated cap is set, all reserves must be held in qualified custodial entities.
Additionally, the bill directs the Comptroller to study revenue opportunities from blockchain-based systems, such as the Lightning Network, for state fee collections. Findings are due to the House Appropriations Committee by January 2026, ahead of the 89th Legislative Session.
Next Steps
Final approval hinges on Senate agreement and the governor’s decision. If signed, the law would mark a milestone in state-level cryptocurrency policy, reinforcing Texas’ reputation as a hub for financial innovation.
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