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Texas Senate advances bitcoin reserve bill with bipartisan support

Internet reports that the Texas Senate just passed Senate Bill 21 (SB-21) and won by a huge margin, a big step in integrating digital assets into the national financial system. The Texas Senate voted 25 - 5 to pass the Texas Bitcoin Reserve Act, which allows the state to invest public funds in Bitcoin and other digital assets. Under SB-21, the Texas Auditor General will manage Bitcoin reserves. The bill allows states to hold digital assets with a total market value of at least $500 billion. Currently, Bitcoin is the only asset that meets this requirement. Funding will come from legislative appropriations and donations from private and corporate organizations. The bill also establishes a Strategic Bitcoin Reserve Advisory Committee, which will oversee investments and issue reports every two years to ensure transparency and accountability.

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