PANews reported on March 12 that according to Cointelegraph, Texas Congressman Ron Reynolds submitted a bill (HB 4258) on March 10, proposing to limit the amount of Bitcoin (BTC) or other cryptocurrencies that the state treasurer can invest in using the "Economic Stabilization Fund" (Rainy Day Fund) to no more than $250 million. In addition, the bill also recommends that the crypto investments of Texas municipal and county governments should not exceed $10 million. Previously, the Texas Senate passed SB 21 on March 6, allowing the state government to establish a Bitcoin reserve without setting an investment cap.

If HB 4258 is passed and signed by Governor Greg Abbott, the new regulations will take effect on September 1, 2025. Meanwhile, the Trump administration has issued an executive order on March 7 to establish a federal "strategic bitcoin reserve," but its legality is still questioned by legal experts. Wyoming Senator Cynthia Lummis introduced a bill on March 11 to formally establish a federal BTC reserve in Congress.