Texas lawmakers propose to limit state government Bitcoin investments to $250 million, while city and county governments are restricted to $10 million

2025-03-12 08:45:58

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ChainCatcher news, according to Cointelegraph, Texas State Representative Ron Reynolds submitted a bill (HB 4258) on March 10, proposing to limit the amount the state treasurer can invest in Bitcoin (BTC) or other cryptocurrencies from the "Economic Stabilization Fund" (rainy day fund) to no more than $250 million. Additionally, the bill suggests that cryptocurrency investments by Texas city and county governments should not exceed $10 million. Previously, the Texas Senate passed SB 21 on March 6, allowing the state government to establish Bitcoin reserves without setting an investment cap.

If HB 4258 is passed and signed by Governor Greg Abbott, the new regulations will take effect on September 1, 2025. Meanwhile, the Trump administration issued an executive order on March 7, planning to establish a federal "strategic Bitcoin reserve," but its legality is still questioned by legal experts. Wyoming Senator Cynthia Lummis introduced a bill on March 11, attempting to formally establish a federal BTC reserve in Congress.

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