Texas lawmakers propose new bill to allow cities and counties to invest up to $10 million in cryptocurrency

On November 11 that, according to Bitcoin Magazine, U.S. Texas State Representative Ron Reynolds introduced House Bill 815 (HB 815) on November 9, proposing to allow each city and county in the state to use up to $10 million in public funds to invest in Bitcoin or other cryptocurrencies.

The bill seeks to amend the Public Funds Investment Act, allowing local governments to include cryptocurrencies in their investment scope, but it does not specify provisions for digital asset custody, dedicated audits, or the handling of investment losses. Existing public funds investment management requirements will remain in effect.

This bill is a scaled-back version of the broader cryptocurrency investment proposal Reynolds introduced in 2025, omitting any reference to a state economic stabilization fund. The bill is currently only at the submission stage and has not yet been referred to committee for review. If passed, it is expected to take effect on September 1, 2027.