Texas launches the first public Bitcoin reserve among the USA states
The post Texas launches the first public Bitcoin reserve among the USA states appeared on BitcoinEthereumNews.com. Texas has officially initiated a state Bitcoin reserve, marking a significant turning point in the financial landscape of the United States. This financial asset is now an integral part of Texas’s economic policy, making Texas the third US state to create a Bitcoin reserve, but the first with autonomous and public management. The governor Greg Abbott has approved two fundamental laws, SB 21 and HB 4488, which authorize and protect this innovative initiative, strengthening Texas’s role in the cryptocurrency sector. Texas: historic development in the management of Bitcoin as a state reserve With the SB 21 law, Texas allows the State Treasurer to directly manage the new Bitcoin reserve, giving rise to a financial fund that is autonomous and independent from the traditional state budget. In parallel, the HB 4488 introduces an important safeguard clause, prohibiting the use of funds for purposes other than investment in Bitcoin. This dual regulatory-legal protection ensures that the reserve remains focused on the digital asset without risks of appropriation or diversion towards other public expenditures, even in the event that Bitcoin is not purchased by the summer. One of the key elements of the fund is represented by the misure di sicurezza that regulate its composition. In fact, only assets with a market capitalization exceeding 500 billion dollars are allowed, a criterion that currently only Bitcoin meets. In addition, a consultative committee composed of five experts has been established, tasked with overseeing investment decisions and ensuring professional management. This approach aims to balance innovation with prudence, reducing the risks associated with the volatility of the asset. According to Lee Bratcher of the Texas Blockchain Council, the initial endowment of the fund could reach tens of millions of dollars. Although the size and timing of the investment will be decided by the professional managers of…
The post Texas launches the first public Bitcoin reserve among the USA states appeared on BitcoinEthereumNews.com.
Texas has officially initiated a state Bitcoin reserve, marking a significant turning point in the financial landscape of the United States. This financial asset is now an integral part of Texas’s economic policy, making Texas the third US state to create a Bitcoin reserve, but the first with autonomous and public management. The governor Greg Abbott has approved two fundamental laws, SB 21 and HB 4488, which authorize and protect this innovative initiative, strengthening Texas’s role in the cryptocurrency sector. Texas: historic development in the management of Bitcoin as a state reserve With the SB 21 law, Texas allows the State Treasurer to directly manage the new Bitcoin reserve, giving rise to a financial fund that is autonomous and independent from the traditional state budget. In parallel, the HB 4488 introduces an important safeguard clause, prohibiting the use of funds for purposes other than investment in Bitcoin. This dual regulatory-legal protection ensures that the reserve remains focused on the digital asset without risks of appropriation or diversion towards other public expenditures, even in the event that Bitcoin is not purchased by the summer. One of the key elements of the fund is represented by the misure di sicurezza that regulate its composition. In fact, only assets with a market capitalization exceeding 500 billion dollars are allowed, a criterion that currently only Bitcoin meets. In addition, a consultative committee composed of five experts has been established, tasked with overseeing investment decisions and ensuring professional management. This approach aims to balance innovation with prudence, reducing the risks associated with the volatility of the asset. According to Lee Bratcher of the Texas Blockchain Council, the initial endowment of the fund could reach tens of millions of dollars. Although the size and timing of the investment will be decided by the professional managers of…
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