Right now, H.B. 4258, which authorizes the state’s comptroller to take a position as much as $250 million in bitcoin has been referred to the state’s Delivery of Government Efficiency Committee, which is Texas’ model of america federal authorities’s DOGE.
The invoice was initially launched to the Texas Home of Representatives on March 11, 2025, and was sponsored by two Democratic Congresspeople — Rep. Ron Reynolds and Mihaela Plesa.
Underneath the proposed laws, Texas’ comptroller would have the ability to take a position funds (as much as $250 million, as talked about) from the state’s Economic Stabilization Fund — colloquially known as the state’s “Wet Day Fund”, which was created to function a financial savings account for the state and to stop sudden notable cuts to colleges, well being care, or different very important state providers — into bitcoin and/or different cryptocurrencies.
It additionally authorizes municipalities or counties to take a position as much as $10 million of its funds or funds below its management into bitcoin and/or different cryptocurrencies.
If the invoice had been to turn into regulation, it could take impact on September 1, 2025, which would offer state- and local-level authorities officers time to formulate an funding technique in addition to devise a plan for custody.
In response to Bitcoin Laws, H.B. 4258 is one in all eight at the moment energetic bitcoin- or crypto-related payments which have been launched to both the Texas Senator or the state’s Home of Representatives. Of the eight payments, it’s the fifth to maneuver to committee.
4 of those payments, together with this present invoice, would authorize the state to place bitcoin on its stability sheet in some trend. The opposite three — H.B. 1598, Senate Bill (S.B.) 21 and S.B. 778 — all name for Texas to determine a Strategic Bitcoin Reserve (SBR).
These three SBR payments are all in committee, with S.B. 21 now in its second spherical of evaluation by committee. The invoice recently passed the state Senate with a 25-5 vote.
Texas stays the state with the second highest variety of energetic bitcoin- and crypto-related payments, trailing behind solely Arizona, which has 9 energetic payments, three of that are near being enacted into regulation.
The state continues to be one of the crucial Bitcoin-friendly states in america, as not solely is it pleasant to Bitcoin in a legislative sense, however it’s at the moment dwelling to roughly one-third of the U.S.’s total Bitcoin mining hash rate.
