NEWSLETTER
Today, HB 4258which authorizes the comptroller of the State to invest up to $ 250 million in bitcoin has been referred to the State Delivery of the Government Efficiency Committeewhich is the Texas version of the Federal Government of the United States DOGE.
The bill was originally presented to the House of Representatives of Texas on March 11, 2025, and was sponsored by two Democratic congressmen, representative Ron Reynolds and Mihaela Passa.
According to the proposed legislation, the Texas Comptroller would have the power to invest funds (up to $ 250 million, as mentioned) of the State Economic Stabilization Fund – Colloquially known as the “rainy day” of the State, which was created to serve as a savings account for the State and to avoid remarkable sudden cuts to schools, medical care or other vital state services, in bitcoin and/or other cryptocurrencies.
It also authorizes municipalities or counties to invest up to $ 10 million of their funds or funds under their control in bitcoin and/or other cryptocurrencies.
If the bill became law, it would come into force on September 1, 2025, which would provide state and local government officials to formulate an investment strategy and design a plan for custody.
According bitcoin lawsHB 4258 is one of the eight bills currently active to bitcoin or crypto, which have been introduced to the Texas Senator or in the State Representatives Chamber. Of the eight bills, it is the fifth to move to the committee.
Four of these bills, including this current bill, would authorize the State to put bitcoin in their balance of blessing in some way. The other three – HB 1598, Senate Bill (SB) 21 and SB 778 – Everyone calls Texas to establish a strategic bitcoin (SBR) reserve.
These three SBR bills are all in the committee, with SB 21 now in their second round of committee. The bill recently approved the state Senate with a 25-5 vote.
Texas remains the state with the second largest number of active invoices related to bitcoin and crypto, which only behind Arizona, which has nine active invoices, three of which are close to being promulgated in law.
The State continues to be one of the most friendly states for the Bitcoins of the United States, since it is not only friendly for bitcoin in a legislative sense, but is currently the home of approximately approximately approximately <a target="_blank" href="https://www.cnbc.com/2023/09/26/where-are-bitcoin-miners-in-2023-texas.html” target=”_blank” rel=”noopener”>One third of the total bitcoin mining rate of the United States.
