U.S. States Explore Bitcoin Reserve Legislation Amid Mixed Approvals and Challenges

Key Points

1. New Hampshire passed HB 302, becoming the first state to authorize a Bitcoin reserve, allowing up to 5% of public funds to be allocated to Bitcoin.

2. Arizona updated its unclaimed property laws (HB 2749) to retain crypto assets but saw vetoes on bills (SB 1025 and HB 2324) that would have expanded Bitcoin holdings for retirement funds.

3. Texas established the Texas Strategic Bitcoin Reserve through Senate Bill 21 and House Bill 4488, with a strong capitalization threshold.

4. Other states like Montana, North Dakota, Pennsylvania, Wyoming, and South Dakota faced stalled or defeated Bitcoin reserve proposals due to insufficient support or doubts about crypto's suitability.

5. Utah passed blockchain-friendly legislation but removed provisions authorizing Bitcoin reserves during the legislative process.