Texas lawmakers have filed a bill that could make the state the first in the country to establish a government-backed cryptocurrency investment fund.
Senate Bill 21, introduced by Republican State Sen. Charles Schwertner, would establish the Texas Strategic Bitcoin Reserve to invest in cryptocurrency.
The bill’s language suggested that the state is seeking to protect its finances against future inflation and economic volatility.
While introducing the bill on Feb. 18 at the Senate Committee on Business and Commerce, Schwertner said it was getting attention from Washington and states concerned with federal spending.
Bitcoin and cryptocurrency have been steadily gaining acceptance in the United States. […]
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