A member of the Texas legislature has proposed a bill that could limit the amount local and state authorities invest in cryptocurrency as a reserve asset.
In a bill filed on March 10, Texas Representative Ron Reynolds proposed the state’s comptroller not be allowed to invest more than $250 million of its Economic Stabilization Fund — otherwise known as a “rainy day” fund — in Bitcoin (BTC) or other cryptocurrencies. The legislation also suggested that Texas municipalities or…
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