Right now, H.B. 4258, which authorizes the state’s comptroller to take a position as much as $250 million in bitcoin has been referred to the state’s Supply of Authorities Effectivity Committee, which is Texas’ model of the USA federal authorities’s DOGE.
The invoice was initially launched to the Texas Home of Representatives on March 11, 2025, and was sponsored by two Democratic Congresspeople — Rep. Ron Reynolds and Mihaela Plesa.
Beneath the proposed laws, Texas’ comptroller would have the ability to take a position funds (as much as $250 million, as talked about) from the state’s Financial Stabilization Fund — colloquially known as the state’s “Wet Day Fund”, which was created to function a financial savings account for the state and to forestall sudden notable cuts to colleges, well being care, or different important state providers — into bitcoin and/or different cryptocurrencies.
It additionally authorizes municipalities or counties to take a position as much as $10 million of its funds or funds beneath its management into bitcoin and/or different cryptocurrencies.
If the invoice had been to turn out to be regulation, it will take impact on September 1, 2025, which would supply state- and local-level authorities officers time to formulate an funding technique in addition to devise a plan for custody.
In line with Bitcoin Legal guidelines, H.B. 4258 is one in every of eight at the moment lively bitcoin- or crypto-related payments which were launched to both the Texas Senator or the state’s Home of Representatives. Of the eight payments, it’s the fifth to maneuver to committee.
4 of those payments, together with this present invoice, would authorize the state to place bitcoin on its stability sheet in some vogue. The opposite three — H.B. 1598, Senate Invoice (S.B.) 21 and S.B. 778 — all name for Texas to ascertain a Strategic Bitcoin Reserve (SBR).
These three SBR payments are all in committee, with S.B. 21 now in its second spherical of assessment by committee. The invoice just lately handed the state Senate with a 25-5 vote.
Texas stays the state with the second highest variety of lively bitcoin- and crypto-related payments, trailing behind solely Arizona, which has 9 lively payments, three of that are near being enacted into regulation.
The state continues to be some of the Bitcoin-friendly states in the USA, as not solely is it pleasant to Bitcoin in a legislative sense, however it’s at the moment dwelling to roughly one-third of the U.S.’s whole Bitcoin mining hash price.
