Texas proposes legislation to limit Bitcoin purchases to $250 million

Odaily News Texas Democratic Congressman Ron Ravens filed a bill on March 10 proposing to cap the state's economic stabilization fund's investment in Bitcoin or other cryptocurrencies at $250 million, while limiting local government investment in cryptocurrencies to no more than $10 million. Previously, the Texas Senate passed a bill on March 6 to establish a strategic Bitcoin reserve without setting a purchase cap. If passed, the bill will take effect on September 1, 2025. (Cointelegraph)