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Kansas Senator Craig Bowser, a member of the Republican Party, introduced a bill to create a reserve fund for bitcoins and other digital assets managed by the state treasury.
The parliamentarian proposed giving Kansas authorities permission to store crypto assets, stake them for rewards, and also participate in free token distributions. The fund must be replenished from interest received from staking, airdrops and unclaimed digital assets.
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Under the Bowser amendments to the state’s unclaimed property law, such property should be considered digital assets owned by people who have not been active with these coins for more than three years and have not contacted them to confirm ownership. The senator demands that custodial services, exchanges and banks be required to transfer “unclaimed crypto assets” to the state treasury or a licensed qualified custodian. If crypto assets remain unclaimed over the next three years, all associated staking rewards will automatically go into a reserve fund, Bowser suggested.
Last year, the senator sponsored a bill allowing the Kansas Public Employees’ Retirement Fund (KPERS) to invest in spot Bitcoin exchange-traded funds (ETFs). At the same time, the pension fund would be required to select ETFs only from public companies registered in Kansas and traded on regulated US exchanges.
Recently, Florida legislators also introduced a bill to create a strategic crypto reserve, which should be replenished from assets confiscated by law enforcement agencies.
