The Texas Senate has just passed Senate Bill 21 (SB-21) with a huge majority, marking a major step towards integrating digital assets into the national financial system.

The Texas Senate passed the Texas Bitcoin Reserve Bill with a vote of 25 to 5, allowing the state to invest public funds in bitcoin and other digital assets.

Under SB-21, the Texas Comptroller will manage the bitcoin reserve. The bill allows the state to hold digital assets with a total market value of at least $500 billion. Currently, bitcoin is the only asset that meets this requirement.

Funding will come from legislative appropriations as well as private and corporate donations. The bill also establishes a Strategic Bitcoin Reserve Advisory Council, which will oversee investments and release a report every two years to ensure transparency and accountability.