Oklahoma Kills Bitcoin Reserve Proposal in Senate Committee Vote

Oklahoma’s attempt to become one of the first American states to implement a Bitcoin reserve has abruptly ended.

In a tight one 6-5 votes On Monday, the Senate income and tax committee went down House Bill 1203Also called the Strategic Bitcoin Reserve ACT, despite the late momentum and a surprise stemomation of Senator Christi Gillespie.

Gillespie, who was planning to vote until ‘until’ until this afternoon ‘, changed ideas after’ a few voters’ reached.

“A legislator changed his ‘no’ mood in a ‘yes’ because they heard from their bitcoiner voters!” tweeted Dennis Porter, CEO and co-founder of Satoshi Action Fund, and insists on Bitcoin Reserve lawyers to put pressure on legislators. “Your voice is important!”

Yet the effort falls short in Oklahoma. The “No” votes came from Republican Senators Todd Gollihare, Chuck Hall, Brent Howard and Dave Rader, together with Democrats Julia Kirt and Mark Mann.

Introduced by Rep. Cody Maynard In January, HB1203 would have enabled Oklahoma to invest in Bitcoin and other qualifying digital assets, defined as one with a market capitalization above $ 500 billion for the past year. Currently alone Bitcoin Meet that threshold.

An earlier committee adopted the bill in February by a wide 12–2 marginSetting up the High-Stakes Showdown of Monday.

State Bitcoin Reserve -efforts

With Oklahoma now out of the picture, New Hampshire, Texas and Arizona have emerged as the best contenders in the race to become the first US state to set up a strategic Bitcoin reserve.

It also marks the last blow to such proposals, after recent rejections in Montana, North Dakota, Pennsylvania, South Dakota and Wyoming.

In the meantime, the New Hampshire House has adopted HB302 on 10 April, which invested a bill of up to 10% of the state’s general fund in Bitcoin and precious metals. The vote of 192-179 sends the bill to the Senate for further consideration.

On the same day as the vote of New Hampshire, the House Insurance and Banking Committee of Florida has been unanimously adopted HB487As a result of up to 10% of certain state funds in Bitcoin, would be invested.

In the meantime, Arizona continues to lead in terms of legislative momentum. On March 24, the State House Rules Committee approved two additional bills, SB1373 And SB1025That suggested that the treasurer of the state of Arizona invested in investing public funds in Bitcoin.

The bills are now waiting for a complete floor voice in the house. When they pass, the legislation goes to Governor Katie Hobbs for definitive approval.

On March 6, the Senate of Texas Passed SB-21A Bitcoin Strategic Reserve Bill, votes in 25-5 after a controversial debate on the Senate floor.

At present, 47 State Bitcoin Reserve (SBR) accounts have been introduced in 26 states, with 40 active accounts that still live in 20 states, according to the reserve tracker Bitcoin Laws’ facts.