Texas has finalized a bill to establish a strategic Bitcoin reserve, potentially becoming the first U.S. state to hold BTC in its treasury.
The eligibility criteria for digital assets was a major point of contention, with the final version of the bill requiring a 24-month market cap threshold for inclusion.
The provision allowing staking of digital assets for yield generation was removed from the final draft, ensuring passive holding of digital assets by Texas.
The bill is now awaiting approval from both chambers and, if signed into law, Texas could lead the way in integrating Bitcoin into its financial strategy.