Texas Establishes Bitcoin Reserve Fund, Creating the First State-Owned Crypto Fund in the U.S.

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ODAILY
03-09
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Odaily reports that the state of Texas has officially created a Bitcoin reserve fund, becoming the first government-managed cryptocurrency fund in US history. The state senate recently passed SB 21 to establish the fund. Lieutenant Governor Dan Patrick stated that this initiative is an important milestone in the development of cryptocurrency, and also aligns with President Trump's vision of making the US a global leader in cryptocurrency. According to the plan, the reserve fund will hold BTC as well as other top cryptocurrencies with a market cap exceeding $500 billion, and will be overseen and guided by a newly established advisory committee. This is not only a local strategic move, but also signifies the gradual formation of a national-level cryptocurrency policy, which may have far-reaching implications for the overall digital asset regulatory framework in the US.

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