Latest news with #TexasBitcoinReserve
Yahoo
22-05-2025
- Business
- Yahoo
Down to the wire: Texas lawmakers OK bills on handgun licenses, cryptocurrency, AI abuses
As the clock ticks down to the June 2 final adjournment of the 2025 legislative session, lawmakers are scrambling to pass — or kill — the bills that have been stacked up for weeks. Here's some of the action at the Capitol on Wednesday. The House finally passed and sent to Gov. Greg Abbott legislation to formally recognize in Texas any handgun license issued in other states. Senate Bill 706 would end the requirement for the governor to negotiate agreements with other states before Texas will accept the licenses. Abbott, a three-term Republican who has signed numerous laws expanding gun rights, is expected to sign the bill. The House gave final approval to Senate-passed legislation to establish the Texas Bitcoin Reserve, which would be administered by the Texas comptroller. The fund will contain Bitcoin and other cryptocurrencies with a market capitalization of at least $500 billion. Lt. Gov. Dan Patrick made SB 21 a priority in the upper chamber, following up on President Donald Trump's pledge to make the United States "the cryptocurrency capital of the world." The measure now returns to the Senate for members to consider the modifications made to the bill in the House. A bill that would provide more protections for migrant workers who might otherwise be forced to live in substandard housing was sent to the governor's desk. According to the Legislature's analysis of SB 243, the Texas Department of Housing and Community Affairs historically has lacked the resources to investigate allegations of substandard housing. Complicating matters is that "migrant laborers are often reluctant to report violations or collect damages related to substandard housing conditions because of fear of retaliation," according to the analysis. The legislation "seeks to address this issue by strengthening the TDHCA penalty structure for violations of provisions governing migrant labor housing facilities and by providing for increased accountability and enforcement of those provisions," the analysis said. A bill to outlaw AI-generated child sexual abuse material passed the House without opposition in a move that lawmakers said will give police more effective tools to crack down on child exploitation. SB 20 by Sen. Pete Flores, R-Pleasanton, would criminalize the possession of obscene material appearing to depict a child, "regardless of whether the depiction is an image of an actual child, a cartoon or animation, or an image created using an artificial intelligence application or other computer software." Under the proposal, the offense would be a state jail felony but a charge could be upgraded for previous convictions. The Senate will need to agree to a House amendment on the bill before it heads to the governor's desk for a signature. The Senate sent to the governor's desk legislation to assess whether veterans face unreasonable obstacles in securing burial space in the system of state-run cemeteries for those veterans. House Bill 1875 requires a panel of senators and state representatives to study the matter and make recommendations to eliminate any such barriers. The Texas General Land Office manages five veterans cemeteries around the state. A bill that would require Texas public schools to display the Ten Commandments in every classroom suffered a procedural setback when a point of order halted discussion on the proposal in the House. SB 10 is one of the latest battles in the Christian right's pursuit of religion in schools and to confront the longstanding principle of separation of church and state. The bill is a priority for Patrick, whose Senate passed it along strict party lines in March. The point of order was brought by Austin Democratic Rep. James Talarico, a former teacher who is a Christian and an outspoken critic of Christian nationalism. He had found a procedural flaw that delayed but likely will not derail the bill. SB 10 will now head back to the House Committee on Public Education for correction but will likely be considered again in a future floor session. This article originally appeared on Austin American-Statesman: Texas lawmakers OK bills on handgun licenses, cryptocurrency, AI abuses
Yahoo
22-05-2025
- Business
- Yahoo
Down to the wire: Texas lawmakers OK bills on handgun licenses, cryptocurrency, AI abuses
As the clock ticks down to the June 2 final adjournment of the 2025 legislative session, lawmakers are scrambling to pass — or kill — the bills that have been stacked up for weeks. Here's some of the action at the Capitol on Wednesday. The House finally passed and sent to Gov. Greg Abbott legislation to formally recognize in Texas any handgun license issued in other states. Senate Bill 706 would end the requirement for the governor to negotiate agreements with other states before Texas will accept the licenses. Abbott, a three-term Republican who has signed numerous laws expanding gun rights, is expected to sign the bill. The House gave final approval to Senate-passed legislation to establish the Texas Bitcoin Reserve, which would be administered by the Texas comptroller. The fund will contain Bitcoin and other cryptocurrencies with a market capitalization of at least $500 billion. Lt. Gov. Dan Patrick made SB 21 a priority in the upper chamber, following up on President Donald Trump's pledge to make the United States "the cryptocurrency capital of the world." The measure now returns to the Senate for members to consider the modifications made to the bill in the House. A bill that would provide more protections for migrant workers who might otherwise be forced to live in substandard housing was sent to the governor's desk. According to the Legislature's analysis of SB 243, the Texas Department of Housing and Community Affairs historically has lacked the resources to investigate allegations of substandard housing. Complicating matters is that "migrant laborers are often reluctant to report violations or collect damages related to substandard housing conditions because of fear of retaliation," according to the analysis. The legislation "seeks to address this issue by strengthening the TDHCA penalty structure for violations of provisions governing migrant labor housing facilities and by providing for increased accountability and enforcement of those provisions," the analysis said. A bill to outlaw AI-generated child sexual abuse material passed the House without opposition in a move that lawmakers said will give police more effective tools to crack down on child exploitation. SB 20 by Sen. Pete Flores, R-Pleasanton, would criminalize the possession of obscene material appearing to depict a child, "regardless of whether the depiction is an image of an actual child, a cartoon or animation, or an image created using an artificial intelligence application or other computer software." Under the proposal, the offense would be a state jail felony but a charge could be upgraded for previous convictions. The Senate will need to agree to a House amendment on the bill before it heads to the governor's desk for a signature. The Senate sent to the governor's desk legislation to assess whether veterans face unreasonable obstacles in securing burial space in the system of state-run cemeteries for those veterans. House Bill 1875 requires a panel of senators and state representatives to study the matter and make recommendations to eliminate any such barriers. The Texas General Land Office manages five veterans cemeteries around the state. A bill that would require Texas public schools to display the Ten Commandments in every classroom suffered a procedural setback when a point of order halted discussion on the proposal in the House. SB 10 is one of the latest battles in the Christian right's pursuit of religion in schools and to confront the longstanding principle of separation of church and state. The bill is a priority for Patrick, whose Senate passed it along strict party lines in March. The point of order was brought by Austin Democratic Rep. James Talarico, a former teacher who is a Christian and an outspoken critic of Christian nationalism. He had found a procedural flaw that delayed but likely will not derail the bill. SB 10 will now head back to the House Committee on Public Education for correction but will likely be considered again in a future floor session. This article originally appeared on Austin American-Statesman: Texas lawmakers OK bills on handgun licenses, cryptocurrency, AI abuses
Yahoo
11-02-2025
- Business
- Yahoo
16 states betting on a U.S. Bitcoin Reserve
During his election campaign in 2024, President Donald Trump pledged to establish a Bitcoin Reserve, sparking ongoing speculation about if and when the U.S. government might formally add Bitcoin to its asset holdings. Since then, the conversation around a federally backed Bitcoin Reserve has gained traction, particularly as some states have adopted more crypto-friendly policies. While no definitive actions have been taken so far by the Trump administration, multiple state governments have shown interest in incorporating Bitcoin into their financial strategies. Let's take a look at which states are leading the charge and how they plan to approach a Bitcoin Reserve. Utah could become the first U.S. state to create a Bitcoin reserve with legislation already being considered. On January 28, one of Utah's house committees voted 8-1 in favor of a bill named the 'Blockchain and Digital Innovation Amendments' that would allow the state to invest a portion of its public funds in Bitcoin and other cryptocurrencies. Utah's interest in Bitcoin is not new, having had a digital asset task force in place since 2022, which allows for ongoing work on cryptocurrency policy. Recently, Texas Lieutenant Governor Dan Patrick unveiled plans to establish a Bitcoin reserve in 2025, listing a 'Texas Bitcoin Reserve' among his top 40 legislative priorities. This initiative follows a similar effort by State Senator Charles Schwertner, who introduced legislation on Jan. 16. Schwertner wrote on X that a Texas Bitcoin Reserve would position the state as a leader in the digital economy, fostering growth and securing economic freedom. Last month, the Arizona Senate Finance Committee approved the 'Arizona Strategic Bitcoin Reserve Act' in a 5-2 vote, marking a significant step toward investing public funds in Bitcoin. Co-sponsored by State Senator Wendy Rogers and State Representative Jeff Weninger, the bill proposes allocating up to 10% of public funds — managed by the state treasurer and retirement systems — into Bitcoin and other cryptocurrencies. Illinois is also working on a Bitcoin strategic reserve bill, aiming to position the cryptocurrency as a financial savings tool. The proposed House Bill 1844, introduced by State Representative John Cabello, seeks to create a strategic Bitcoin reserve as a special fund within the state treasury to hold Bitcoin as a financial asset. A key feature of the bill is its mandated minimum five-year holding period. After this term, the state treasury would have the flexibility to transfer, sell, appropriate, or convert the Bitcoin into another cryptocurrency. Pennsylvania was the first state to introduce a Bitcoin reserve bill in November 2024. Several other states have either proposed or passed similar legislation, including Florida, Alabama, Massachusetts, Kentucky, Montana, New Hampshire, North Dakota, Oklahoma, Ohio, South Dakota, and Wyoming. Depending on the enthusiasm and momentum of these early adopter states, more local governments could soon propose similar Bitcoin reserve legislation in the coming months. For the latest news, Facebook, Twitter and Instagram. Sign in to access your portfolio
