Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Legislators in three U.S. states have introduced proposals aimed at establishing Bitcoin reserves, while two states have already evaluated and dismissed similar measures.
The legislatures of Montana, Michigan, and North Carolina are preparing to review bills that suggest the formation of Bitcoin reserves. Specifically:
- The Montana State Legislature will consider a bill proposing an investment of up to $50 million in Bitcoin.
- The North Carolina General Assembly has referred the relevant document to the House Committee on Commerce and Economic Development for evaluation.
- Michigan lawmakers will assess a proposal to allocate up to 10% of total reserves in Bitcoin and other cryptocurrencies.
Related Posts
Additionally, lawmakers in Texas have reintroduced a bill to establish a strategic reserve based on digital assets. The updated proposal now encompasses investments not only in Bitcoin but also in other cryptocurrencies with a market capitalization of at least $500 billion over the past year.
At the federal level, it is improbable that the U.S. will approve Bitcoin as a strategic reserve by 2025. This action is anticipated to be implemented later, as the nation’s current focus is on regulating the cryptocurrency market, according to Max Krupyshev, CEO of CoinsPaid, in a statement to CP Media.
According to the Bitcoin Reserve Monitor, the total number of U.S. states reviewing Bitcoin reserve bills has increased to 21. In Utah and Arizona, similar proposals have already been approved by relevant committees and are now awaiting legislative votes.
Meanwhile, two states have rejected such proposals, namely North Dakota and Wyoming. Notably, Wyoming generally supports Web3 initiatives. For example, it was among the first jurisdictions globally to grant decentralized autonomous organizations (DAO) official legal status.
Сообщение Montana, Michigan, and North Carolina to Think about Establishing Bitcoin Reserves появились сначала на CoinsPaid Media.
