While UTA has become the first state to obtain a bill in a legislative chamber which would allow the investment of public money in cryptographic assets, legislators in two other states joined hunting this week: Kentucky and Maryland.
Although largely identified with the accusation directed by the Republicans towards a so-called “Bitcoin Strategic Reserve” at the federal level, the states have moved their own measures, widely varied as to the way everyone could invest in money from state in digital assets.
The Utah bill to allow the treasurer of the State to put money in digital assets survived a tight vote in the House of Representatives of Utah – advancing with only a margin of three vote – To go to state Senate Friday. If it erases the two chambers and is promulgated by the governor, the legislation would make it possible to invest in public funds in stablescoins or a cryptocurrency with a market capitalization of more than $ 500 billion, which is currently a single list : Bitcoin.
The new bill in Maryland this week, presented by the Democrat delegate Caylin Young, put pressure for a Bitcoin Strategic Reserve (BTC), as was that envisaged by American senator Cynthia Lummis. In Maryland, the reserve would be funded by the revenues of the application of the violations of the game.
Kentucky legislation has also landed this week, with two bills – so far – which would open state pension funds to invest in negotiated digital asset funds. Bills would also throw road dams for the use of Central Bank digital currencies (CBDC).
Most of the bills of the state have avoided requesting that new taxpayers be channeled in crypto.
Read more: Us Bitcoin Reserve can happen, but the states win the race
Fifteen other states weigh legislation in their current sessions, with others that should follow, and two other states – Michigan and Wisconsin – already have parties of their retirement funds in Crypto FNB. The sharp increase in state interest has mainly developed after the election of President Donald Trump and his declared interest in a strategic stock of digital assets.
Trump has published an executive decree calling for a working group on the cryptography of his administration to examine the possibilities of a crypto stock for the United States, although he has stopped calling a Bitcoin strategic reserve.
