In major development, the Texas government officially signed a strategic Bitcoin protection area by law to diversify its financial investment strategy. Since the event, Texas has officially became the third US state owned by Bitcoin preliminary funds in less than five months by the Pro Crypto Donald Trump administration.
Texas operates the Independent Bitcoin Protection Zone
On June 20, Texas, GREGG ABBOT, officially enacted SB 21, which suggested the formation of strategic bitcoin protection zones for the purpose of investing in the digital asset market. Charles Schwart, a member of the Senator, said that the proposed Bitcoin protection area exists outside the State Treasury, but it will still be under the investment authority of the administrator of the public account.
In addition, the reserve troops can have Bitcoin and other cryptocurrencies as the summary ordered. However, only cryptocurrency with an average market cap of $ 500 billion for 12 months can log in to a restriction that effectively limits the restrictions on Bitcoin ($ 2.07 trillion) and Ether Leeum ($ 27.2 billion).
On the other hand, all investments in the reserve army for the state Treasury require the approval of the legislature through the general expenditure law or other laws. However, administrators can withdraw Bitcoin or spend net profit from asset sales to cover all costs related to protection area management.
Governor Abbott signed HB 4488 with SB 21. The HB 4488 also signed a separate bill that guarantees legal existence of the protection area even if the strategic Bitcoin reserve and other funds do not go through periodic financial fund sweeps, even if Bitcoin is not purchased in the summer of 2026, even if Bitcoin is not purchased in the summer of 2026.
State Bitcoin Reserve Race
On March 6, US President Donald Trump signed the federal strategic Bitcoin protection zone and encouraged the state to explore premiere cryptocurrencies as an investment tool. As mentioned earlier, Texas is now the third week of the United States, which operates strategic Bitcoin protection zones since Arizona and New Hampshire.
According to the data from Bitcoin Laws, there are five different states to join the pack with the legislative legislation proposed with the legislative legislation currently under review. This week includes Michigan, Ohio, North Carolina, Rose Island and Massachusetts.
Meanwhile, efforts in states, such as Oklahoma, Florida, and Georgia, faced considerable frustration with the proposed Bitcoin reserve bill, which was suspended or officially abolished by legislative or political obstacles.
Bitcoin in Press Time continues to trade at $ 102,650 after decreasing 2.74% last week. This negative achievement leads to 7.50% losses last month due to intense price modifications.
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