The Senator from Texas proposes a bill to establish the first state-level Bitcoin strategic reserve in the United States
U.S. Senator Charles Schwertner has proposed Senate Bill 778 (SB 778), which, if passed, would make Texas the first state in the U.S. to establish a strategic Bitcoin reserve.
Schwertner emphasized that Texas should take the lead in adopting Bitcoin. This proposal could potentially allow the state to collect taxes, fees, and donations in the form of Bitcoin. Texas is the second largest economy in America and also where most of American's Bitcoin miners are concentrated.
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