Texas lawmakers have advanced the Strategic Bitcoin Reserve (SBR) bill to the final stage, which could make it the third state in the US with crypto reserves. This move follows the steps of Arizona and New Hampshire, which recently signed two SBR bills into law.
On Wednesday, the Texas House Committee on Delivery of Government Efficiency (DOGE) passed Senate Bill 21 (SB 21), advancing to the next legislative stage.
Sponsored by State Senator Charles Schwertner, the bill aims to establish the Texas Strategic Bitcoin (BTC) Reserve, allowing the state’s comptroller to invest in crypto assets with a market capitalization of at least $500 billion over the past twelve months.
The House Committee passed SB 21 in a 9-4 vote with no amendments, and with no more referred Committees, it will proceed to the final House floor vote. Notably, the bill swept the Texas Senate in a 25-5 vote two months ago.
Notably, Senator Schwertner initially filed the crypto legislation in January as Senate Bill 778 (SB 778), which imposed a $500 million annual cap on BTC purchases and had more restrictive oversight and security measures.
Similarly, Arizona’s governor, Katie Hobbs, signed House Bill 2749 (HB 2740) on Wednesday, “technically creating AZ’s first crypto reserve,” detailed Bitcoin Laws. The legislation doesn’t allow investments, but enables the state to move unclaimed assets, airdrops, and staking rewards into a reserve.
The crypto-friendly sign from Hobbs is crucial as Senate Bill 1373 (SB 1373), another SBR that doesn’t include retirement fund investment, is headed to her desk after passing the final Senate vote 17-11 on May 6.
