Texas Rep. Files Bill Letting Cities Invest $10 Million in Bitcoin
By Micah Zimmerman
AI summary of the source article
Texas Rep. Ron Reynolds filed House Bill 815, which would allow each city and county in Texas to invest up to $10 million in bitcoin or other cryptocurrencies. If passed, the authority would take effect September 1, 2027.
Key facts
- House Bill 815 would amend the Public Funds Investment Act to permit Texas cities and counties to invest up to $10 million in cryptocurrency.
- The bill applies to municipalities and counties, excluding school districts and other local governments.
- The proposed measure does not specify rules for custody, audits, or handling investment losses.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine Texas Rep. Files Bill Letting Cities Invest $10 Million in Bitcoin Rep. Ron Reynolds filed House Bill 815 on Monday, allowing each Texas city or county to put up to $10 million of public money into bitcoin starting Sept. 1, 2027. This post Texas Rep. Files Bill Letting Cities Invest $10 Million in Bitcoin first appeared on Bitcoin Magazine and is written by Micah Zimmerman .