Texas Advances Strategic Bitcoin Reserve Bill SB 21: What Comes Next for Bitcoin Legislation

On May 21, COINOTAG reported that the Texas Strategic Bitcoin Reserve Bill (SB 21) has successfully passed its second reading in the House. This significant development signals a growing legislative acknowledgment of Bitcoin as a vital asset in finance. Following this pivotal second reading, the bill will undergo a third reading and subsequent vote for final House approval. It will then be transmitted to the Senate, where a similar process will be executed. Should there be any discrepancies in the versions approved by both chambers, a reconciliation phase will occur to harmonize the proposals. Ultimately, this bill will be forwarded to the Governor for signature before it can be enacted into law. The passage of such legislation illustrates Texas’s determination to solidify its position within the evolving landscape of cryptocurrency regulation and investment.