The Texas Senate Bill (SB 21) aims to establish a strategic Bitcoin reserve in Texas and is near final approval after passing the second reading in the House.
The bill has been amended to require crypto assets to maintain their market cap above a specific threshold for 24 months to qualify for inclusion.
The legislative session in Texas ends on June 2, implying that the bill must pass a final vote before then.
The establishment of a strategic Bitcoin reserve has been gaining traction in various states, with Texas following New Hampshire in this initiative.