Stricter Requirements for Digital Asset Inclusion

Now, hold onto your hats, folks! There was quite the ruckus during the negotiations about what it takes to get a digital asset into this exclusive club. The Senate, in all its wisdom, thought a digital asset should have a whopping $500 billion market cap for a whole year before it could even think about joining the party. 🤑

But the House, being the cautious critters they are, insisted on a 24-month requirement. They wanted to make sure only the most established of the digital darlings could join the fun. And guess what? The final version of SB 21 decided that Bitcoin is the only one worthy enough to strut its stuff in this elite reserve! Talk about a VIP pass! 🎟️

Staking Clause Removed from Final Draft

Oh, but wait! There’s more! The House had a little idea about letting the Texas Comptroller stake those digital assets to earn some extra dough. But alas! The committee waved their magic wands and poof! That clause vanished into thin air! 🪄✨

So, Texas will now be holding onto its digital treasures like a squirrel hoarding acorns—no staking, no fancy returns, just good old-fashioned passive holding. How thrilling! 😴

What’s Next?

Now, this shiny new bill is off to both chambers for a final round of applause before it makes its way to the governor’s desk. If the big cheese gives it a thumbs up, Texas will be the trailblazer, boldly integrating Bitcoin into its financial strategy. Who knows? This might just spark a wild stampede of similar legislation across the land! 🤠💥

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