As Utah became the first state to obtain a bill by a legislative room that would allow public currency investment in crypto possessions, lawmakers in two other states joined the hunting week This is: Kentucky and Maryland.
Although widely identified along with charges led by Republican to a so-called “bitcoin strategic reserve” at the federal level, states have moved their own steps, which is widely varied how money can invest money money on digital assets.
UTAH’s bill to allow state treasurer to put money on digital assets Survived a tight vote At the Utah House of Representative-Advanced with a three-vote margin only-to head Friday in the state Senate. If it removes both rooms and is signed by the Governor law, the law will allow the investment of public money to stablecoins or cryptocurrency with a market cap of more than $ 500 billion, which is currently a Single name list: bitcoin.
The New Maryland bill this weekDemocrat Delegate Caylin Young introduced, pushing for a bitcoin (Btc) Strategic reserve, similar to one US Senator Cynthia Lummis. In Maryland, the reserve will be funded by income from the implementation of gambling violations.
The Kentucky law It also went this week, with two bills-to this day-that will open state retirement funds for investing in digital funds exchanged by the exchange. Bills will also dispose of road barriers for the use of central digital currencies (CBDC).
Most state bills have become clearly calling the new taxpayer’s money to be pachannel in crypto.
Read more: US Bitcoin Reserve may come, but states have won the racing
Fifteen other states weigh the law in their current sessions, including others who are expected to obey, and another two states – the Michigan and Wisconsin – there are already parts of their retiring funds in Crypto ETFs. The promotion of state interests mostly developed after President Donald Trump’s election and his stated interest in a strategic stockpile of digital assets.
Trump released an executive order Calling for his administration’s crypto working group to check the possibilities of a crypto stockpile for the US, even though he stopped calling for a strategic bitcoin reserve.
