When Utah became the first state to obtain a bill through a legislative chamber that would allow the investment of public money in cryptographic assets, legislators in two other states joined hunt this week: Kentucky and Maryland.
Although widely identified with the position led by Republicans towards a so -called “Bitcoin strategic reserve” at the federal level, states have moved their own measures, widely varied as to how each one could invest state money in digital assets.
Utah’s bill to allow the state treasurer to put money in digital assets survived a strict vote in the Utah House of Representatives, advancing with only one margin of three votes, to go to the state Senate on Friday. If the governor clears both cameras and is signed by the governor, the legislation would allow to invest public money in stables or cryptocurrencies with a market capitalization of more than $ 500 billion, which is currently a single name list: Bitcoin.
The new bill in Maryland this week, presented by Democratic delegate Caylin Young, presses a strategic Bitcoin (BTC) reserve, as well as that contemplated by the American senator Cynthia Lummis. In Maryland, the reservation would be financed through the income of the application of random games violations.
Kentucky legislation also landed this week, with two bills, so far, which would open state retirement funds for investment in funds quoted in the Bag of Digital Assets. The invoices would also show obstacles to the use of digital currencies of the Central Bank (CBDC).
Most state laws have been aimed at asking that the new money of taxpayers can be channel to cryptography.
Read more: the US Bitcoins Reserve. UU. It can come, but the states are winning the race
Another fifteen states are weighing the legislation in their current sessions, and others are expected to continue, and two other states, Michigan and Wisconsin, already have parts of their retirement funds in cryptographic ETFs. The increase in state interests developed mainly after the election of President Donald Trump and his interest declared in a strategic reserve of digital assets.
Trump issued an executive order that requested that the administration cryptographic working group examine the possibilities of a cryptography reserve for the United States, although it has not requested a strategic Bitcoins reserve.
