TechFlow news, June 21 — According to Crypto Briefing, Texas Governor Greg Abbott passed House Bill 4488 (HB 4488), a bill designed to protect certain state funds, including any Bitcoin reserve established outside the state treasury, from being deposited into the general revenue. The bill exempts this reserve fund and other special funds from the automatic dissolution requirement in 2025.
Texas Governor Greg Abbott has not yet taken action on Senate Bill 21 (SB21), which would authorize Texas to invest in Bitcoin and other digital assets with a market capitalization of at least $50 billion. Currently, only Bitcoin meets this threshold.
Greg Abbott must sign or veto SB21 by June 22. The bill was presented to him on June 1. Since it was submitted near the end of the legislative session, under Texas law, he must act within 20 days after adjournment.
