⚖️ Texas lawmaker proposes allowing cities to invest $10 million in Bitcoin $BTC
📌 Representative Ron Reynolds has introduced House Bill 815 to the Texas Legislature, proposing amendments to the Public Funds Investment Act (Chapter 2256 of the Texas Government Code). Under the bill, each city or county in the state could invest up to $10 million in public funds in Bitcoin or other cryptocurrencies.
📌 Notably, the $10 million limit would apply separately to each local government entity, not as a shared fund for the entire state. However, the bill excludes school districts and other local governments covered by the investment law. The bill’s definitions of Bitcoin and cryptocurrency are based on Senate Bill 21, which established the Texas Strategic Bitcoin Reserve last year.
💬 What do you think of this development? Let’s discuss!
#CryptoRegulation #CryptoNews
🔗 Source: Bitcoinmagazine
⚠️ This information is for reference only and is not investment advice. Do your own research before making a decision (DYOR).
📌 Representative Ron Reynolds has introduced House Bill 815 to the Texas Legislature, proposing amendments to the Public Funds Investment Act (Chapter 2256 of the Texas Government Code). Under the bill, each city or county in the state could invest up to $10 million in public funds in Bitcoin or other cryptocurrencies.
📌 Notably, the $10 million limit would apply separately to each local government entity, not as a shared fund for the entire state. However, the bill excludes school districts and other local governments covered by the investment law. The bill’s definitions of Bitcoin and cryptocurrency are based on Senate Bill 21, which established the Texas Strategic Bitcoin Reserve last year.
💬 What do you think of this development? Let’s discuss!
#CryptoRegulation #CryptoNews
🔗 Source: Bitcoinmagazine
⚠️ This information is for reference only and is not investment advice. Do your own research before making a decision (DYOR).
