Bitcoin Magazine reports that Texas Representative Ron Reynolds introduced HB 815. The bill would allow each city and county to invest up to $10 million in public funds in Bitcoin or other cryptocurrencies.
The measure does not impose specific requirements for storing crypto assets. However, local governments would have to include these investments in their written investment policies.
The bill has not yet been referred to a committee. If passed, the new authority would take effect on September 1, 2027.