- Texas Governor Greg Abbott must sign/veto the SB 21 bill by Sunday; otherwise it becomes law automatically, creating a state BTC treasury.
- SB 21 mandates the Comptroller to acquire, hold, and manage Bitcoin, starting a strategic state reserve due to BTC’s market size.
Texas faces a Sunday deadline regarding state-owned Bitcoin. Governor Greg Abbott must sign or veto Senate Bill 21 (SB 21) by June 22nd. If he takes no action by that date, the bill automatically becomes law under the state constitution.
SB 21 proposes creating a state treasury holding specifically for Bitcoin. The bill names Bitcoin due to its market value exceeding the required $500 billion threshold. State Senator Charles Schwertner sponsored the legislation.
Texas Update:
The deadline for Governor Abbott to sign (or veto) Bitcoin Reserve Bill SB 21 is this Sunday, June 22.
If he does neither, it will automatically become law according to the Texas Constitution. pic.twitter.com/Ig39caECEG
— Bitcoin Laws (@Bitcoin_Laws) June 16, 2025
This bill grants authority to the Texas Comptroller of Public Accounts. The Comptroller would acquire, hold, and manage the Bitcoin. The law allows adding other cryptocurrencies later. If enacted, the Comptroller must set up the holding. A report to the House Appropriations Committee is due by January 2026.
Approval would place Texas alongside New Hampshire and Arizona. These are the only other U.S. states with established Bitcoin treasury holdings.
The Bill also creates an Advisory Committee
This group includes individuals with computer investment experience. Their role is to guide management of the Bitcoin holdings. The plan requires using qualified custodians for security. Computer storage methods designed for protection will be used.
No official confirmation exists on the Governor’s action. Analysts expect Abbott will let the bill become law. He previously expressed support for the measure and related computer finance activities.
“Texas moves to establish a strategic Bitcoin holding: a new era in state finance” Abbott stated after the bill passed the Legislature.
Abbott also reminded users of past statements. He proclaimed Texas the “home of computer mining.” He declared his aim for Texas to become the “sector leader” in the United States.
As reported by ETHNews, the Texas House approved SB 21 in late May. The House passed the bill on third reading one day after its second reading approval. This sent the bill to the Governor’s desk for his final action.
Similar attempts in other states have failed. Proposals in Wyoming and Montana faced rejection. Lawmakers cited concerns about computer value fluctuations. Some cited limited understanding of the technology.
The post Watch Texas Flip the Script on State Bitcoin Reserves Before Sunday’s Final Block appeared first on ETHNews.
