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Senate adopts conference report creating Texas strategic Bitcoin reserve, removes donations and lending powers
Summary
The Texas Senate approved a conference committee report establishing a state-managed Bitcoin reserve under the comptroller but removed provisions allowing voluntary cryptocurrency donations and permitting the comptroller to lend or stake reserve holdings.
The Texas Senate adopted the conference committee report for Senate Bill 21 on a 24-7 roll call, creating the Texas Strategic Bitcoin Reserve as a special fund managed by the comptroller of public accounts.
The move establishes a state-managed fund that the conference committee revised after negotiations with House conferees. Senator Charles Schwertner, the sponsor who presented the report,…
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