SB 21 Texas Senate · 89th Legislature (2025)

Relating to the establishment and administration of the Texas Strategic Bitcoin Reserve for the purpose of investing in cryptocurrency and the investment authority of the comptroller of public accounts over the reserve and certain other state funds.

SB 21 establishes the Texas Strategic Bitcoin Reserve as a special fund outside the state treasury, managed by the comptroller of public accounts. The bill authorizes the state to invest in Bitcoin using defined custody methods, including "cold storage" (offline, physically secured storage) and requiring investments through "qualified custodians" (regulated financial institutions). This directly affects how the state manages certain funds, allowing the comptroller to allocate state resources into Bitcoin for financial resilience. The law became effective immediately upon the governor's signature on June 20, 2025.

Bill status signed all 5 stages cleared

Introduction

Feb 2025

Committee Review

May 2025

Senate Passage

May 2025

House Passage

Jun 2025

Signed into Law

Jun 2025

Introduced Feb 12, 2025 Signed Jun 20, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

Engrossed → Enrolled · 7 edits · Jun 20, 2025

MODERATE

The bill was finalized and signed into law as the Texas Strategic Bitcoin Reserve and Investment Act, establishing a special fund for the state to invest in Bitcoin and other cryptocurrencies. The enrolled version includes additional provisions for an advisory committee, expanded third-party contracting requirements, and specific reporting obligations for the comptroller.

Scope change

The bill now includes a new advisory committee to oversee reserve management and expanded rules for third-party contracts, including a new 'qualified liquidity provider' requirement.

REQUIREMENT

New Texas Strategic Bitcoin Reserve Advisory Committee established with five members to advise on investment policies and asset valuation.

Market capitalization requirement changed from 12-month to 24-month period for cryptocurrency investments.

New qualified liquidity provider requirements added for third-party contracts, including licensing, financial statements, experience, and state presence requirements.

New provision allowing the comptroller to use derivatives if determined to be in the best interest of the reserve.

ENFORCEMENT

Biennial reporting requirement added for the comptroller to publish reserve holdings and actions on the state website.

TIMELINE

Effective date changed to September 1, 2025, if the bill does not receive a two-thirds vote for immediate effect.

DEFINITION

Additional definitions for 'Fork' and 'Virtual currency' included in the enrolled version.

Floor votes · Senate Mar 6, 2025 · House May 20, 2025

How they voted

24–5

Passed · 1 other

Total votes 30

Mar 6, 2025

D Democratic10

8 Yea 1 Nay 1

80% Yea

R Republican20

16 Yea 4 Nay

80% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Jun 20, 2025

Signed into law

Signed by the Governor

executive

Jun 1, 2025

Lower · Passed

Signed in the House

lower

May 31, 2025

Upper · Passed

Signed in the Senate

upper

May 30, 2025

Upper · Passed

Senate adopts conference committee report

upper

May 29, 2025

Lower · Passed

House adopts conference committee report

lower

May 27, 2025

Lower · Passed

House grants request for conference committee

lower

May 25, 2025

Lower · Passed

Senate requests conference committee-reported

lower

May 25, 2025

Upper · Passed

Senate requests conference committee

upper

May 25, 2025

Introduced

House amendment(s) laid before the Senate

upper

May 21, 2025

Upper · Passed

House passage as amended reported

upper

May 21, 2025

Lower · Passed

Passed

lower

May 20, 2025

Lower · Passed

Passed to 3rd reading as amended

lower

May 20, 2025

Lower · Passed

Amended

lower

May 20, 2025

House · Passed

House Vote: pass (121-5-18)

house

May 13, 2025

Lower · Passed

Committee report sent to Calendars

lower

May 13, 2025

Lower · Passed

Committee report distributed

lower

May 7, 2025

Lower · Passed

Reported favorably as substituted

lower

May 7, 2025

Committee

Failed to receive affirmative vote in comm.

lower

Apr 23, 2025

Lower · Passed

Left pending in committee

lower

Apr 23, 2025

Lower · Passed

Testimony taken/registration(s) recorded in committee

lower

Apr 9, 2025

Committee

Referred to Delivery of Government Efficiency

lower

Apr 9, 2025

Introduced

Read first time

lower

Mar 11, 2025

Introduced

Received from the Senate

lower

Mar 6, 2025

Upper · Passed

Passed

upper

Mar 4, 2025

Upper · Passed

Committee report printed and distributed

upper

Mar 4, 2025

Upper · Passed

Reported favorably as substituted

upper

Feb 27, 2025

Upper · Passed

Vote taken in committee

upper

Feb 18, 2025

Upper · Passed

Left pending in committee

upper

Feb 18, 2025

Upper · Passed

Testimony taken in committee

upper

Feb 13, 2025

Committee

Referred to Business & Commerce

upper

Feb 13, 2025

Introduced

Read first time

upper

6 primary · 28 co-sponsors