Texas Governor Signs HB 4488 to Protect State Bitcoin Reserve as Permanent Fund

PANews reported on June 21 that according to Crypto Briefing, Texas Governor Greg Abbott passed House Bill No. 4488 (HB 4488), which aims to protect specific state government funds, including any Bitcoin reserves created outside of state finances, from being included in general revenue. The bill exempts the reserve fund and other special funds from the obligation to automatically dissolve in 2025.

Texas Governor Greg Abbott has yet to make a decision on Senate Bill 21 (SB21). The bill would authorize Texas to invest in Bitcoin and other crypto assets with a market value of at least $500 billion. Currently, only Bitcoin meets this threshold.

Greg Abbott has until June 22 to sign or veto SB21, which was submitted to him on June 1. Because the bill was submitted near the end of the legislative session, under Texas law he must act within 20 days of the adjournment.