Utah Passes Bill for Digital Asset Investments
The Economic Development and Labor Service Committee of the House of Representatives of Utah has approved a bill, which allows the state to distribute public funds to invest in digital assets.
If the bill is completed and approved by the governor, the bill will take effect on May 7, 2025.
Utah Greenlights Digital Asset Investment
Blockchain and digital innovation amendments (second SUB.HB230) Bill moves forward in the process of legislation in Utah. This development is where Arizona has proposed a bill to establish a strategic Bitcoin reserveEssence Utah is now the second state that promotes similar initiatives.
Representative Jordan TEUSCHER and the original bill modify each other, HB 230Essence He expressed his enthusiasm for the enthusiasm of Utah Leadership of Blockchain InnovationEssence
“Although Utah is the 11th country that proposes a similar legislation, we will be the first country to pass through it. Utah continues to lead the blockchain and digital innovation!” Teuscher Publish On X (previously Twitter).
It is worth noting that, January 28th, Second alternative The version of the bill was introduced. The bill greatly reduces the state’s contact with digital assets volatilityEssence It reduces public funds to digital asset allocation by 10 % to 5 %.
In addition to reducing investment in investment, the new version also improves partition regulations and sound restrictions Digital asset miningEssence Although core regulations and definitions remain largely, these adjustments aim to increase supervision clarity.
Committee vote 8-1-1 in favor of the revised bill. It will go to all votes. If it is approved, it will go to the Senate for further review and voteEssence If both Chambers have passed the legislation, they will be sent to the governor for final approval.
Kentucky and South Dakota participated in the Strategic Bitcoin Reserve Tournament
Utah is not alone to promote digital assets. Other states, including Oklahoma, Texas, Massachusetts and Wyoming StateSimilar legislation has been introduced. Now more states are joining the game.
In Kentucky, the state representative TJ Roberts participated in X, and vowed to continue to work hard to establish The statement is “the capital of the world”.
He emphasized that it is time to complete the battle now, and he is going to introduce a Bitcoin strategic reserve method in the next few days.
“I will introduce a Bitcoin strategic reserve bill next week! postal read.
Southern Dakota also joined the campaign. The state representative Logan Manhart was supported in his latest post.
“I proudly said, I will bring a bill in the house in Nanda, which will create a strategic Bitcoin Reserve,” Manhart WriteEssence
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