Texas Lawmaker Introduces New Bill to Allow Municipalities and Counties to Invest Up to $10 Million in Cryptocurrency

According to 深潮 TechFlow, on November 11, as reported by Bitcoin Magazine, Texas State Representative Ron Reynolds submitted House Bill 815 (HB 815) on November 9, proposing to allow each city and county in the state to invest up to $10 million of public funds in Bitcoin or other cryptocurrencies.

The bill proposes to amend the Public Funds Investment Act to allow local governments to include cryptocurrencies in their investment scope, but does not provide specific provisions on digital asset custody, special audits, or the handling of investment losses. Existing public fund investment management requirements will continue to apply.

Reportedly, the bill is a scaled-down version of a broader cryptocurrency investment proposal introduced by Reynolds in 2025 and no longer covers the state's Economic Stabilization Fund. The bill is currently only in the introduction stage and has not yet been referred to committee for review. If passed, it is expected to take effect on September 1, 2027.

Source: 深潮 TechFlow