Bitcoin made in Texas. After New Hampshire and Arizona, it is up to Texas to adopt a law that allows the creation of a strategic bitcoin reserve. Governor Greg Abbott signed the text of the SB21 law, which allows the state to hold bitcoins for so long -a third financial asset to protect itself from inflation and economic turbulence. With this decision, Texas will therefore join two other American states that have performed a bitcoin bet and intend to use the growth of this digital asset. Direction Austin, the capital of Texas to evaluate these reports.
- Texas adopted the SB21 Act and allowed the creation of bitcoin strategic reserves to strengthen its financial resistance.
- This reserve, which is unique by its structure and independent proceedings, calls Texas as a pioneer in the United States.
Texas adopts the SB21 Act that permits the creation of a strategic Bitcoin reserve
Governor of Texas Greg Abbott Signed the law last week SB21 which authorization of creation and Bitcoin strategic reserve Managed by the state. This reserve will operate independently of the General Treasury System and its aim is to strengthen the financial resistance of the state and at the same time serve as a coverage against inflation.
The law stipulates that only assets with market capitalization greater than $ 500 billion They are eligible to be included in this reserve, only bitcoins are currently achieved. The fund will be managed by the Texas Public Accounts controller and led by the Advisory Committee consisting of three investment experts in the cryptocurrency.
Governor Greg Abbott wants to protect the state of inflation and economic turbulence
In addition to direct purchases, the reserve will be able to grow thanks to forks, ardrops, investment profits or even public gifts in cryptocurrencies. The public report in detail describing the assets and performance of the fund will be published every two years.
PUSH Signature of the SB21 Act Governor Abbott is governed by the adoption of the HB4488 law, which protects the reserve from absorption in the state of general income, thus protecting it from changing budget priorities.
The Texas becomes the third US state that passes the Bitcoin Reserve Act, joins Arizona and New Hampshire. Unlike these countries, however, Texas is the first to start public funds and create a separate structure for detaining bitcoins.
New Hampshire was the first to allow iPublic new in bitcoinsBut it maintained these assets inside the state treasury without creating a separate reserve or long -term legal protection. Arizona, on the other hand, created a structured fund for cryptocurrency management required by the UN, but did not deal with new public funds or active investments. Texas is therefore the forerunner of the established bitcoin reserves.
(Tagstotranslate) United States (US)