Illinois, Indiana Push for State-Owned Bitcoin Reserves
Illinois and Indiana have proposed bills to establish strategic Bitcoin reserves. They joined more and more states in the United States to explore Bitcoin as financial assets.
Although the goal of Illinois is to create a Bitcoin reserve fund, the Indiana bill is slightly different. It explores how blockchain technology enhances the operation of national agents. In addition, the bill also discussed the investment of the Bitcoin Exchange Trading Fund (ETF).
Illinois promotes Bitcoin reserve
Illinois representative John M. Cabello proposed the 1844 House of Representatives (HB1844), also known as the Strategic Bitcoin Reserve Law. Bright spots of bills The potential of Bitcoin as a decentralized limited digital asset Can be used as hedge inflation Economy volatilityEssence
“Strategic Bitcoin reserves and Illinois are committed to promoting the innovation of digital asset innovation and providing enhanced finances for Illinois Safety,” this bill read.
The proposed bill is designed to establish Strategic Bitcoin Reserve FundSupervisor of State Financial Supervisor. It provides regulations for accepting the donation of Bitcoin by residents and government entities.
In addition, the bill stipulates that the minimum holding period is five years. So anyone Bitcoin is added to the fund Before the state can be sold, transferred or converted into another cryptocurrency, it will be held within the specified time.
The bill also stipulates the criteria for ensuring and management funds. It needs to be transparent through conventional reports and give state financial supervisors to set up the power of necessary rules.
Indiana’s Bitcoin strategy
At the same time, the methods adopted by Indiana are slightly different. Written by the state representative Jake Teshka, the No. 1322 of the representatives SHANE LINDAUER and Cory Cory Criswell, which represents the use of blockchain use and Bitcoin investment strategy.
The bill indicates how the Executive’s Division explores Blockchain technology can improve government efficiencyData security and consumer experience.
“The Ministry of Administration (department) should issue information requests to explore how national institutions use blockchain technology: (1) to achieve higher cost efficiency and cost benefits; (2) improve consumer convenience, experience, data, data Security and data privacy, “” Hb1322 nation.
This also paved the way for Bitcoin’s state -owned investment. The bill allows public employee retirement funds, state teachers’ retirement funds and public official funds to invest in approved Bitcoin Exchange Trading Fund (ETFS).
This includes the bitcoin ETF that directly accommodates Bitcoin. In addition, it includes Bitcoin futures ETF. These tracking Bitcoin changes through the price of derivatives.
this Act as Utah and Arizona’s early legislative investment in public funds In digital assets. also, Dan Patrick, Lieutenant, Texas, has become a Bitcoin Reserve The top priority in 2025.
Similar suggestions in South Dakota and Kentucky may follow, because state representatives are preparing to introduce a bill to formulate strategic Bitcoin reserves.
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