Texas lawmakers are making progress on a bill to create a state-managed Bitcoin reserve, aligning with President Donald Trump’s nationwide crypto reserve initiative.

Senate Bill 21, introduced by Senator Charles Schwertner, proposes the establishment of the Texas Strategic Bitcoin Reserve.

The Senate Committee on Business and Commerce has unanimously passed the bill, which now awaits a Senate floor vote.

A similar bill, HB1598, has been introduced in the House by Representative Giovanni Capriglione. Both bills permit external Bitcoin donations, with varying terms for contributors.

This initiative coincides with Trump’s push for a U.S. Crypto Strategic Reserve, encompassing cryptocurrencies like Bitcoin, Ether, ADA, SOL, and XRP.

Texas, known for welcoming crypto mining facilities, aims to lead the crypto industry in the United States.

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