The Texas Senate passed the Bitcoin strategic reserve bill SB-21 on March 6. This followed a debate in which State Senator Charles Schwertner, who introduced the bill, argued that it would help Texas add a valuable and scarce asset to its balance sheet.
Amid fears of Bitcoin (BTC) contending against the US dollar as a global reserve currency, Pro-Bitcoin lawmakers argued that Bitcoin was similar to gold and a hedge against inflation.
If SB-21 is enacted, Texas will be the first state in the US to have a digital asset reserve. However, the governor must still sign the bill before it becomes law.
New York bill aims to protect crypto investors from memecoin rug pulls
New York lawmakers introduced a bill to protect crypto users from memecoin rug pulls, where insiders abandon a project after investors have purchased their token. These scams usually