PANews reports on May 18th that according to DL News, the Texas State Legislature is advancing a bill called the "Texas Strategic Bitcoin Reserve" (officially named SB21). The bill has been submitted to the state House of Representatives and is expected to undergo its second reading on May 20th. If ultimately passed, Texas will become the third state government in the United States to approve the establishment of a Bitcoin reserve, following New Hampshire and Arizona. The bill authorizes the state comptroller to establish a special fund outside the treasury for purchasing digital assets with a market value exceeding $500 billion, currently only including Bitcoin. Funding sources may include legislative appropriations, airdrops, forks, investment returns, and public or private donations. Reserve assets will be stored in cold wallets and supervised by an advisory committee.
