Connect with us

bill

Texas State Rep Files For Strategic Bitcoin Reserve

Published

3 months ago

on


Follow Nikolaus On 𝕏 Here For Daily Posts

Today, Texas State Representative Giovanni Capriglione officially filed for a Strategic Bitcoin Reserve bill for the state of Texas during a 𝕏 spaces with Dennis Porter of Satoshi Action Fund, a Bitcoin advocacy organization working with politicians on pro-Bitcoin legislation.

To summarize, the bill would effectively:

  • See Texas buy and hold bitcoin as a strategic reserve asset.
  • Securely store the BTC in cold storage for at least five years.
  • Allow Texas residents to donate bitcoin to the reserve.
  • Ensure transparency via yearly reports and audits.
  • Allow state agencies to accept cryptocurrencies, and convert them to bitcoin.
  • Establish rules for security, donations, and management.

“This Act takes effect immediately if it receives a 12 vote of two-thirds of all the members elected to each house, as 13 provided by Section 39, Article III, Texas Constitution,” the legislation states. “If this Act 14 does not receive the vote necessary for immediate effect, this Act 15 takes effect September 1, 2025.”

This is yet another step towards America embracing Bitcoin, fueled by President-elect Donald Trump and Senator Cynthia Lummis’ lead by introducing a Strategic Bitcoin Reserve bill for the United States earlier this year. The hype around implementing a Strategic Bitcoin Reserve has caused a snowball effect of other states and countries introducing legislation to adopt one as well. Other states like Pennsylvania and countries like Russia and Brazil are among those introducing bills for a Strategic Bitcoin Reserve.

“Chairman Capriglione is the Chair of the Texas Pensions, Investments, and Financial Services Committee so this bill has legs!” commented Lee Bratcher, President of the Texas Blockchain Council. “No taxpayer funds will be spent on the bitcoin.”



Source link

Related Topics:
Continue Reading

bill

Kentucky Senate Passes Bill Protecting Bitcoin Self-Custody Rights

Published

7 days ago

on

March 14, 2025

By


Yesterday evening, the Kentucky Senate unanimously passed a bill aimed at protecting Bitcoin self-custody rights and digital asset mining operations. With a decisive 37-0 vote, the legislation, titled AN ACT relating to blockchain digital assets (HB 701), now moves to the Governor’s desk for final approval.

Sponsored by Representatives Adam Bowling and T.J. Roberts, the bill affirms the right of individuals to self-custody digital assets through self-hosted wallets. Additionally, it prevents local zoning laws from discriminating against digital asset mining businesses, ensuring that Bitcoin miners can operate freely within the state.

The bill outlines several key provisions, including:

  • Protection for Bitcoin self-custody: Individuals have the legal right to use and store digital assets in self-hosted wallets.
  • Prohibition of discriminatory zoning laws: Local governments cannot impose zoning changes that unfairly target digital asset mining businesses.
  • Exemptions from money transmitter licensing: Home Bitcoin miners and digital asset mining businesses are exempt from Kentucky’s money transmitter requirements.
  • Clarification of securities laws: Digital asset mining and staking as a service are explicitly not classified as securities under Kentucky law.

After passing through the Kentucky House with a 91-0 vote on February 28, 2025, the bill moved swiftly through the Senate. The March 13 vote saw full bipartisan support, with 37 senators voting in favor, zero opposed, and one not voting.

The legislation now awaits the Governor’s signature, which would officially enshrine Bitcoin self-custody protections and digital asset mining rights into Kentucky law. If signed, Kentucky will become one of the more Bitcoin-friendly states in the country, setting a precedent for other states to follow.





Source link

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon