Recent rumors about a Texas Reserve Bill requiring the purchase of XRP have been clarified, with officials confirming that only Bitcoin is mentioned in the official documents. The source notes that this clarification comes in the wake of social media speculation prior to the Texas Senate's approval of SB 21.
Texas Senate Approves SB 21
The Texas Senate approved SB 21 on September 27, 2023, which has been the subject of much discussion and misinformation. While some social media posts suggested that XRP would be included in the state's reserve policy, Texas officials have firmly stated that the bill solely references Bitcoin as the cryptocurrency of focus.
Clarification on Cryptocurrency Reserves
This clarification aims to dispel any confusion and misinformation surrounding the bill, ensuring that stakeholders understand the state's position on cryptocurrency reserves. The emphasis on Bitcoin aligns with broader trends in the cryptocurrency market, where Bitcoin continues to dominate as a leading digital asset.
As xMoney continues to secure its position in the blockchain payment sector with a substantial $215 million funding round, the cryptocurrency market is simultaneously witnessing a shift towards community-driven investments. Currently, the rise of meme coins like FLOKI highlights how social media dynamics are influencing investment trends, a topic explored in a recent report that you can read here.
