Texas lawmaker files bill to let local governments invest up to $10M in BTC

Texas state Rep. Ron Reynolds has filed HB 815, a bill that would allow individual cities and counties to invest up to $10 million in public funds in Bitcoin and other cryptocurrencies, according to Bitcoin Magazine. The bill would add cryptocurrency investment provisions to the state’s public funds investment law. The $10 million cap would apply to each local government separately rather than statewide, and school districts would be excluded. If passed, the measure would take effect on Sept. 1, 2027, Bitcoin Magazine reported. The proposed investment scope is not limited to Bitcoin, and the bill does not include detailed rules on asset custody or audits. It is set to be discussed during the regular session of the Texas Legislature, which opens on Jan. 12, 2027, and has not yet been referred to a standing committee.