{"id":10556,"date":"2025-04-02T04:54:25","date_gmt":"2025-04-02T02:54:25","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=10556"},"modified":"2025-04-02T04:54:25","modified_gmt":"2025-04-02T02:54:25","slug":"texas-comptrollers-bill-to-allocate-250-million-for-bitcoin-investment-advances-to-committee","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/04\/02\/texas-comptrollers-bill-to-allocate-250-million-for-bitcoin-investment-advances-to-committee\/","title":{"rendered":"Texas Comptroller’s Bill to Allocate $250 Million for Bitcoin Investment Advances to Committee"},"content":{"rendered":"

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Today, H.B. 4258<\/a>, which enables the state\u2019s comptroller to allocate as much as $250 million towards bitcoin, has been assigned to the state\u2019s Committee on Delivery of Government Efficiency<\/a>, which serves as Texas\u2019 equivalent to the federal DOGE<\/a>.<\/p>\n

This piece of legislation was initially presented to the Texas House of Representatives on March 11, 2025, and is backed by two Democratic lawmakers \u2014 Rep. Ron Reynolds and Mihaela Plesa.<\/p>\n

As per the suggested legislation, the comptroller of Texas would gain the authority to invest (up to $250 million, as previously noted) from the state\u2019s Economic Stabilization Fund<\/a>, commonly known as the \u201cRainy Day Fund,\u201d which was established to operate as a savings account for the state and to avert sudden significant reductions in educational, healthcare, or other essential state services \u2014 into bitcoin and\/or various cryptocurrencies.<\/p>\n

Additionally, it permits local governments or counties to invest up to $10 million of their resources or funds they oversee into bitcoin and\/or other cryptocurrencies.<\/p>\n

If enacted, the legislation would become effective on September 1, 2025, allowing officials at both state and local levels to create an investment strategy and implement a custody plan.<\/p>\n

As reported by Bitcoin Laws<\/a>, H.B. 4258 is among eight currently active bitcoin- or crypto-related proposals that have been submitted to either the Texas Senate or the House of Representatives. Out of the eight, it ranks as the fifth to advance to committee.<\/p>\n

Four among these proposals, including the one in focus, would grant the state the ability to reflect bitcoin on its balance sheet in some manner. The remaining three \u2014 H.B. 1598<\/a>, Senate Bill (S.B.) 21<\/a>, and S.B. 778<\/a> \u2014 all propose the establishment of a Strategic Bitcoin Reserve (SBR) in Texas.<\/p>\n

These three SBR proposals are currently in committee, with S.B. 21 undergoing its second review by the committee. The bill recently passed in the state Senate<\/a> by a vote of 25-5.<\/p>\n

Texas remains the state with the second largest number of active bitcoin- and crypto-related bills, following behind only Arizona, which has nine active bills, three of which are nearing enactment into law.<\/p>\n

The state persistently ranks as one of the most Bitcoin-friendly locations in the U.S., not only due to its legislative support for Bitcoin but also because it is presently home to roughly one-third of the U.S.\u2019s total Bitcoin mining hash rate<\/a>.<\/p>\n<\/p><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Today, H.B. 4258, which enables the state\u2019s comptroller to allocate as much as $250 million towards bitcoin, has been assigned to the state\u2019s Committee on Delivery of Government Efficiency, which serves as Texas\u2019 equivalent to the federal DOGE. This piece of legislation was initially presented to the Texas House of Representatives on March 11, 2025,<\/p>\n","protected":false},"author":3,"featured_media":10557,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[1951],"class_list":["post-10556","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","tag-gptreturn-a-list-of-comma-separated-tags-from-this-title-bill-that-authorizes-texas-comptroller-to-invest-250-million-into-bitcoin-moves-to-committee-gpt"],"yoast_head":"\nTexas Comptroller's Bill to Allocate $250 Million for Bitcoin Investment Advances to Committee - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2025\/04\/02\/texas-comptrollers-bill-to-allocate-250-million-for-bitcoin-investment-advances-to-committee\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Texas Comptroller's Bill to Allocate $250 Million for Bitcoin Investment Advances to Committee - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"Today, H.B. 4258, which enables the state\u2019s comptroller to allocate as much as $250 million towards bitcoin, has been assigned to the state\u2019s Committee on Delivery of Government Efficiency, which serves as Texas\u2019 equivalent to the federal DOGE. 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