Texas Lawmakers Push for State Bitcoin Treasury—Wall Street Sweats Over Missed Fees

Lone Star legislators just took a chainsaw to traditional finance barriers. A new House bill could make Texas the first state to hold Bitcoin in its reserves—because why should the Fed have all the fun?

The Breakdown:
No more waiting for federal handouts. If passed, this bill lets Texas stockpile BTC like digital gold, hedging against inflation while giving middle fingers to central banks. Meanwhile, Wall Street brokers are already calculating how much they’ll lose in custody fees.

Why It Matters:
When a state with a GDP bigger than Russia’s flirts with crypto, markets listen. Expect fireworks—and lobbyists—as the bill moves forward. Just don’t hold your breath for Jamie Dimon’s endorsement.

• The Texas House passed Senate Bill 21 with a 105-23 vote, showing strong bipartisan support.
• The bill proposes the creation of a state-managed Bitcoin reserve outside the state treasury.
• An amendment extended the required market capitalization period for crypto assets from 12 to 24 months.

The Texas House of Representatives advanced the Bitcoin reserve bill, Senate Bill 21, following a strong bipartisan vote. Lawmakers adopted a key amendment and approved the bill with a 105-23 margin. This legislative move positions Texas closer to managing a state-run Bitcoin reserve through official mechanisms.

Bitcoin Reserve Bill Receives Key House Amendment

The House passed a revision proposed by Representative Linda Garcia that changed how soon a firm can be listed in the crypto market. The amendment means that digital assets listed on Binance are now kept in the market capitalization system for at least 24 months, rather than 12. The change aims to ensure the bitcoin reserve holds assets with sustained market stability and proven performance.

It was added to the bill before the full House, as both parties favored digital asset management. Lawmakers emphasized the importance of transparency and long-term planning in structuring the state’s Bitcoin reserve. Now, the amendment changes the bill so that it is no longer the same as the Senate version, which could lead to reconciliation.

The approved legislation establishes a Bitcoin reserve as a special fund managed by the state comptroller. Using the blockchain makes it possible to hold and manage digital assets flexibly, separate from the state’s financial system. The intention is to improve how Texas handles money and increase the types of assets held due to inflation and worldwide economic changes.

Bill Establishes Framework for Crypto Management

According to Senate Bill 21, the state comptroller is given rules for buying, holdin, and reporting assets like Bitcoin. To meet these regulations, countries must regularly release a biennial report covering crypto asset values, movements, and total reserves. This framework ensures accountability while integrating Bitcoin reserve management into Texas’s financial systems.

An advisory committee will guide the comptroller on choosing the best path for digital assets. The panel will include professionals who have previously operated with cryptocurrency and blockchain. 

After H.B. 1598, which included digital asset concepts in legislation, the Senate bill received more attention. This new version uses previous discussions to improve the content and add new provisions. Senate Bill 21 also demonstrates a greater interest among lawmakers in using cryptocurrency to help protect people financially.

Texas Nears Final Steps Toward Bitcoin Reserve Law

The amended Bitcoin reserve bill passed the House on its second reading but still requires one more House vote. After being approved, the two chambers meet to settle any differences in the versions. The governor evaluates and adopts the final bill if the committee finishes its job.

Texas WOULD become the second state to establish an official Bitcoin reserve after New Hampshire if signed into law. Arizona tried to pass a similar rule, though the governor still vetoed it even when another bill on unclaimed crypto had passed. The state’s leadership in crypto laws and mining makes it an important player in digital finance.