The Texas Bitcoin Reserve Bill has been submitted to the Senate Finance Committee for review

Odaily Planet Daily News: The Texas Strategic Bitcoin Reserve Act has been read out recently and submitted to the Senate Finance Committee for review. Senator Charles Schwertner's Senate Bill 778 proposes the establishment of a state controlled Bitcoin reserve as financial security and strengthens Texas' role in digital asset innovation. According to the proposed legislation, the reserve aims to achieve two key objectives: (1) the state can own and hold Bitcoin as a financial asset; (2) Individuals (including residents of the state) can donate Bitcoin to the state and deposit it into reserves to promote shared ownership and community investment in the state's financial future. This bill establishes strict security and management guidelines for Bitcoin reserves. The Texas Auditor General's Office will oversee its management to ensure safe custody and appropriate storage measures. The bill stipulates that the Auditor General shall safeguard all bitcoins held in reserves, emphasizing the state's responsibility in protecting assets. We will implement a cold storage solution to prevent unauthorized access and conduct regular audits to maintain transparency.