PANews reported on May 18 that according to DL News, the Texas State Legislature is advancing a bill called "Texas Strategic Bitcoin Reserve" (officially known as SB21). The bill has been submitted to the state House of Representatives and is expected to be reviewed for the second time on May 20. If it is finally passed, Texas will become the third state government in the United States to approve the establishment of a Bitcoin reserve after New Hampshire and Arizona. The bill authorizes the state comptroller to establish a special fund outside the Treasury Department to purchase digital assets with a market value of more than $500 billion, currently only including Bitcoin. Funding sources may include legislative appropriations, airdrops, forks, investment income, and public or private donations. The reserve assets will be stored in cold wallets and supervised by an advisory committee.