US News

Texas Eyes Legislation to Establish State Cryptocurrency Investment Fund

Texas’s Bitcoin reserve fund would be an investment held outside the state treasury.
Texas Eyes Legislation to Establish State Cryptocurrency Investment Fund
Representations of cryptocurrency Bitcoin and U.S. dollar are seen in this illustration, on Aug. 10, 2022. Dado Ruvic/Reuters
Darlene McCormick Sanchez
|Updated:
0:00

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.
Darlene McCormick Sanchez
Darlene McCormick Sanchez
Reporter
Darlene McCormick Sanchez is an Epoch Times reporter who covers border security and immigration, election integrity, and Texas politics. Ms. McCormick Sanchez has 20 years of experience in media and has worked for outlets including Waco Tribune Herald, Tampa Tribune, and Waterbury Republican-American. She was a finalist for a Pulitzer prize for investigative reporting.