Texas Bill Would Let Each City and County Invest Up to $10 Million in Crypto

Texas state Rep. Ron Reynolds, a Democrat, filed a bill that would let each city and county invest up to $10 million in Bitcoin (BTC) or another cryptocurrency, creating an option for local public funds. The cap would apply separately to every city and county, with no single statewide pool. HB 815 would amend the Texas Public Funds Investment Act. Before investing, local governments would have to include crypto assets in their written investment policies. The bill would not require local governments to limit holdings to Bitcoin. It also omits the $500 billion market-value threshold and custody requirements in Texas' separate Strategic Bitcoin Reserve measure. HB 815 is a narrower version of HB 4258, an earlier proposal that did not pass.

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