Texas bill would open $10M crypto investments to cities and counties

Texas Rep. Ron Reynolds has filed a bill that would let each city and county invest up to $10 million in Bitcoin or other cryptocurrencies, without importing the market-cap restriction used by the state’s Bitcoin reserve. $10 million would be the investment cap for each municipality or county under HB 815. School districts are outside the proposed authority, which would take effect Sept. 1, 2027. The bill borrows crypto definitions from Texas’ reserve law without its $500 billion eligibility threshold. Reynolds previously proposed a $250 million state investment alongside the same local-government allowance. Texas Legislature Online’s introduced text shows that House Bill 815 would amend the Public Funds Investment Act by adding a section authorizing cryptocurrency investments. Reynolds, a Democrat representing Missouri City, filed the measure on Nov.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to crypto.news.