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How the New Bill Aims to Revolutionize State Finance
The post How the New Bill Aims to Revolutionize State Finance appeared on BitcoinEthereumNews.com. Texas with the 8th largest economy in the world is stepping into the crypto spotlight as State Representative Giovanni Capriglione proposes a bill to establish a Strategic Bitcoin Reserve reported by CNBC. This initiative aligns with President-elect Donald Trump’s vision for a federal-level Bitcoin reserve, highlighting the growing acceptance of Bitcoin across states and industries. Seems US states are already making Trump’s vision of Bitcoin reserve a reality. The Texas Strategic Bitcoin Reserve Act introduced by @VoteGiovanni proposes a state-managed Bitcoin reserve to strengthen Texas’s fiscal resilience and foster digital innovation. The reserve will: 1. Accept Bitcoin donations from Texas residents.2. Securely store and manage… pic.twitter.com/VPgyyBb1I9 — Pierre Rochard (@BitcoinPierre) December 12, 2024 A Bold Step for Texas The Texas Strategic Bitcoin Reserve Act proposes creating a state fund to hold Bitcoin, using Texas’s strong foothold in Bitcoin mining to boost financial stability and drive digital innovation. Lee Bratcher, President of the Texas Blockchain Council, supports the initiative, highlighting its reliance on voluntary Bitcoin donations from residents instead of taxpayer money, fostering a sense of community ownership. Key Features of the Proposal The bill outlines the creation of a secure Bitcoin fund, serving as a hedge against economic uncertainty. Representative Capriglione emphasized its flexibility, leaving room for future expansion based on legislative support. This approach could make Texas a pioneer in integrating Bitcoin into its financial systems. Others Following the League This proposal mirrors similar efforts nationwide, such as Pennsylvania’s recent legislation. Up to ten other states and several countries are reportedly exploring comparable measures. On the federal level, President-elect Trump’s pro-crypto stance includes plans for a national Bitcoin reserve and the formation of a crypto advisory council. Plus, states like Oklahoma, Louisiana, and Montana have already enacted laws to support mining rights and digital asset innovation. Advocacy groups, such…
The post How the New Bill Aims to Revolutionize State Finance appeared on BitcoinEthereumNews.com.
Texas with the 8th largest economy in the world is stepping into the crypto spotlight as State Representative Giovanni Capriglione proposes a bill to establish a Strategic Bitcoin Reserve reported by CNBC. This initiative aligns with President-elect Donald Trump’s vision for a federal-level Bitcoin reserve, highlighting the growing acceptance of Bitcoin across states and industries. Seems US states are already making Trump’s vision of Bitcoin reserve a reality. The Texas Strategic Bitcoin Reserve Act introduced by @VoteGiovanni proposes a state-managed Bitcoin reserve to strengthen Texas’s fiscal resilience and foster digital innovation. The reserve will: 1. Accept Bitcoin donations from Texas residents.2. Securely store and manage… pic.twitter.com/VPgyyBb1I9 — Pierre Rochard (@BitcoinPierre) December 12, 2024 A Bold Step for Texas The Texas Strategic Bitcoin Reserve Act proposes creating a state fund to hold Bitcoin, using Texas’s strong foothold in Bitcoin mining to boost financial stability and drive digital innovation. Lee Bratcher, President of the Texas Blockchain Council, supports the initiative, highlighting its reliance on voluntary Bitcoin donations from residents instead of taxpayer money, fostering a sense of community ownership. Key Features of the Proposal The bill outlines the creation of a secure Bitcoin fund, serving as a hedge against economic uncertainty. Representative Capriglione emphasized its flexibility, leaving room for future expansion based on legislative support. This approach could make Texas a pioneer in integrating Bitcoin into its financial systems. Others Following the League This proposal mirrors similar efforts nationwide, such as Pennsylvania’s recent legislation. Up to ten other states and several countries are reportedly exploring comparable measures. On the federal level, President-elect Trump’s pro-crypto stance includes plans for a national Bitcoin reserve and the formation of a crypto advisory council. Plus, states like Oklahoma, Louisiana, and Montana have already enacted laws to support mining rights and digital asset innovation. Advocacy groups, such…
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