Dennis Porter, CEO of Satoshi Action Fund, warned of the urgency to move forward in his second read of the SB 21 project in the Texas House of Representatives.
“That’s a necessary step,” Porter declared this Saturday on his X account. Tuesday, May 20thwhen the Texas Legislature only has a few days left to enter the break.
According to activists and Bitcoiner, narrow time slots If you want to take a proposal to the governor’s signature, leave most margins for the error Greg Abbott, until the end of May.
It should be noted that Congress plans to close the current session on June 2nd, so some fear that the project will expire if it is not approved before that day. If this occurs, it must be reintroduced in the next assembly.
The SB 21 project, entitled Texas Strategic Reserve and Investment Law; It already overcomes two important obstacles: It was approved by the state senator with 25-5 votes on March 6, and by the Chamber Committee on May 7, earning four votes for nine and four, as reported by Cryptootics. Now he is facing a second reading overall, a step ahead of the final vote.
The law allows Texas to acquire, security and manage Bitcoin as part of its strategic reserve. The aim is to strengthen its long-term financial independence while protecting the nation from inflation and economic volatility.
Given the lack of time left before the parliamentary break, there are some concerns regarding the potential expiration date for the project, but many are optimistic about the outcome. Bitcoin Law Specialist Sites GOPs argue and provide positive vote results There are advantages of 89-62 Representative of Texas.
If the reservation is approved, Texas will become the third state in the United States. uu. Having a formal BTC reserveFollow the steps of New Hampshire and Arizona. In May, New Hampshire became the first person to approve similar laws.
Porter and other advocates of the initiative see the historic opportunity in the legislation that positions Texas as a leader in the institutional adoption of Bitcoin in the United States. However, the clock will progress and the readings that take place this May 20th will be decisive.