The Montana House Business and Labor Committee is considering a resolution on Bitcoin and
The House passed a bill that would allow other cryptocurrencies to be recognized as reserve assets. House Bill No. 429
No. 429) passed February 19th by a vote of 12 to 8, with all Republicans in favor and all Democrats opposed.
The bill is the fourth cryptocurrency reserve bill to reach the House of Representatives at the state level in the U.S., and would include a reserve for precious metals, stablecoins and digital assets with an average market capitalization of 7,500 billion units over the past fiscal year.
The proposal includes the creation of a special income account that can be used to invest in assets worth more than $1 billion. Currently, Bitcoin is the only digital asset that meets this criteria.
The bill moves to the Montana House of Representatives, joining Utah, Arizona and Oklahoma in passing legislation regarding bitcoin reserves.
The bill originally included a provision requiring reserves to be held in trusts or exchange-traded funds (ETFs), but that requirement has been amended.
If the bill is finally passed, it will go into effect on July 1, and the Montana Treasurer will have until July 15 to allocate up to $50 million to precious metals, digital assets and stable coins.
You can transfer your investments to a special account. Currently, there are 100,000 Illinois, 100,000 Kentucky, 100,000 Maryland, 100,000 New Hampshire, 100,000 New York State ...
New Hampshire, New Mexico, North Dakota
Dakota, Ohio, Pennsylvania, South Dakota
Other states that have introduced Bitcoin reserve bills include Dakota, Texas, and others. The state that has made the most regulatory progress so far is Utah, which has passed a Bitcoin reserve bill.
It is the only state to have passed the House.
2025/02/21 13:47 KST
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