TechFlow news, on June 24, according to CoinDesk, Texas became the first U.S. state to establish a public Bitcoin reserve and allocate $10 million for purchasing Bitcoin. This reserve will be managed independently from the state's general fund, distinguishing it from Arizona and New Hampshire, which have only authorized but not funded such reserves. The accompanying bill, HB4488, specifies that this reserve must not be included in general state revenue.
In addition, the Texas Senate Bill SB1498 automatically took effect on June 20 and will come into force on September 1. The bill authorizes state authorities to seize digital assets—including cryptocurrencies, NFTs, and stablecoins—linked to specific criminal activities, bringing them under civil asset forfeiture provisions.
