⚖️ Texas bill would allow cities and counties to invest $10 million in crypto
📌 Texas State Representative Ron Reynolds, a Democrat representing Missouri City, introduced House Bill 815 on 9/11, ahead of the regular session of the 90th Legislature. The text published on Texas Legislature Online shows that the bill amends the Public Funds Investment Act by adding a provision allowing investments in cryptocurrency. Official records list Reynolds as the bill’s author, and no committee referral has been reported.
📌 Under the proposal, each eligible city and county could invest up to $10 million in Bitcoin $BTC or other cryptocurrencies. This is not a shared $10 million fund for all of Texas, but a separate limit for each local government. Participation is voluntary: the bill does not require purchases, set a minimum investment, or allocate state budget funds to finance local transactions. Notably, school districts and other public agencies are not covered by this new investment authority.
💬 What do you think about this development? Let’s discuss!
#CryptoRegulation #CryptoNews
🔗 Source: Cryptonews
⚠️ This information is for reference only and is not investment advice. Do your own research before making a decision (DYOR).
📌 Texas State Representative Ron Reynolds, a Democrat representing Missouri City, introduced House Bill 815 on 9/11, ahead of the regular session of the 90th Legislature. The text published on Texas Legislature Online shows that the bill amends the Public Funds Investment Act by adding a provision allowing investments in cryptocurrency. Official records list Reynolds as the bill’s author, and no committee referral has been reported.
📌 Under the proposal, each eligible city and county could invest up to $10 million in Bitcoin $BTC or other cryptocurrencies. This is not a shared $10 million fund for all of Texas, but a separate limit for each local government. Participation is voluntary: the bill does not require purchases, set a minimum investment, or allocate state budget funds to finance local transactions. Notably, school districts and other public agencies are not covered by this new investment authority.
💬 What do you think about this development? Let’s discuss!
#CryptoRegulation #CryptoNews
🔗 Source: Cryptonews
⚠️ This information is for reference only and is not investment advice. Do your own research before making a decision (DYOR).