Arizona’s Strategic Digital Assets Reserve Bill is one vote away from hitting Governor Katie Hobbs’ desk, though she has been recently vetoing bipartisan bills.
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The bill seeks to legalize cryptocurrency payments using Bitcoin, Ethereum, Litecoin and Bitcoin Cash, but may mandate an an additional state “service fee” for these transactions.
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The bill aims to set regulatory standards for crypto firms operating in the state and curb "deceptive practices" associated with recent memecoin scams.
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North Carolina lawmakers have introduced twin bills in the House and Senate which could see up to 5% of crypto assets allocated to state retirement funds.
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Senator Cynthia Lummis reintroduced the BITCOIN Act in the 119th Congress, bringing on new co-sponsors and changes to the landmark bill.
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Utah lawmakers have passed a Bitcoin bill after amending it to remove a section that would have authorized the state treasurer to invest in Bitcoin.
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New Hampshire’s Bitcoin bill will now be voted on in the House after its House commerce committee voted in favor of the bill in a 16-1 vote.
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US Senator Cynthia Lummis expects progress toward a Bitcoin reserve to be slower at the federal level.
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Legislation that would allow Utah to invest in Bitcoin has been passed by a state Senate subcommittee and has already made it through the House.
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Montana has passed a Bitcoin reserve bill at the subcommittee level, making it the fourth US state to advance a related bill to the House.
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House Bill 1217, introduced by Representative Ben Keathley, aims to establish a Bitcoin reserve fund for Missouri and mandate crypto acceptance for state payments.
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North Dakota’s lawmakers have introduced a bill aimed to combat crypto ATM transactions after 103 state residents reported $6.5 million in losses to crypto scams in 2023.
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The bill includes licensing requirements for stablecoin issuers, offering and marketing restrictions and broader consumer protections.
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VanEck said a US Bitcoin reserve could slash the national debt if the cryptocurrency increases to $42.3 million a coin by 2049.
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Ohio has become the third US state behind Texas and Pennsylvania to see bills introduced to establish Bitcoin reserves as part of the state treasury.
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