News with the tag "utah"

The Senate of Utah, seen by some observers as being the frontrunner to establish a bitcoin reserve , passed a Bitcoin bill that excluded provision for the state treasurer to invest in the largest cryptocurrency. Instead it provides the state's residents with basic custody protections and establishes...

Utah lawmakers have approved a Bitcoin-focused bill, but not in its original form. The state’s HB230 “Blockchain and Digital Innovation Amendments” bill, which initially included a provision for Utah to hold Bitcoin in its state reserves, has now passed the Senate without this landmark proposal. The...

This year's rapid surge in U.S. states' interest to put public money into cryptocurrencies before the federal government can establish a strategic reserve of digital assets has encountered mixed results after five such efforts flamed out, though Utah remains a single vote away from the finish line a...

New documents reveal that a Montana bill to use Bitcoin ( BTC ) as a reserve asset is heading toward the state’s House of Representatives for a vote. According to legislative tracking service LegiScan, Montana House Bill 429 – which would allow the state to invest in precious metals and digital asse...

The race to establish Bitcoin as a state-level strategic reserve asset has taken a decisive step forward in the Beehive State. On February 20, House Bill 230 (HB230), also known as the “Blockchain and Digital Innovation Amendments,” passed the Senate Revenue and Taxation Committee in a 4-2-1 vote. T...

Utah is taking a significant step toward integrating cryptocurrency into its public funds with the progress of the Blockchain and Digital Innovation Amendments bill, known as H.B. 230. The bill, which passed the House in an 8-1 vote last month, was moved to the Senate on February 7 and has now been ...

The latest state effort to set up the investment of public money into cryptocurrency, a bill introduced on Monday in North Carolina, is backed by the state's Speaker of the House Destin Hall. The high-profile North Carolina push contemplates putting as much as 10% of its general and highway funds in...

As Utah became the first state to get a bill through a legislative chamber that would allow the investment of public money into crypto assets, lawmakers in two other states joined the hunt this week: Kentucky and Maryland. Though broadly identified with the Republican-led charge toward a so-called "...

Utah’s House of Representatives on February 6 passed House Bill 230 (HB 230), informally referred to as the “Strategic Bitcoin Reserve” bill, by a narrow margin of 38 votes in favor, 34 against, and 3 not voting. HB 230 will now advance to the Senate, where its fate hinges on another vote before ult...

The Utah House Economic Development Committee has approved a groundbreaking bill that could pave the way for state investment in cryptocurrency. On January 28, the committee voted 8-1 to pass HB 230, also known as the Blockchain and Digital Innovation Amendments. The proposal, championed by Represen...