These States Have Rejected Bitcoin Reserve Bills

by shayaan

Some Bitcoin reserve proposals at state level in the US have hit roadblocks after several states have rejected bills to invest public funds in the leading crypto.

Of the 50 US states, more than half have introduced or considering legislation in connection with Bitcoin Reserves or investments in digital assets, but the fate of many of these accounts remains uncertain.

Some have taken the line and reserved the framework for the Staatscrypto, but others have already failed. There is a look at how such accounts have failed so far.

Arizona

Arizona received his “Arizona Strategic Bitcoin Reserve Act” or SB 1025, all the way to the office of Gouverneur Katie Hobbs – but eventually was short of the finish when Hobbs threw the bill in the beginning of May Veto.

If adopted, the bill would have allowed the state opportunities of Arizona to allocate up to 10% of the state funds to Bitcoin and other coins. In a letter Hobbs wrote to Senate President Warren Petersen in Arizona: “Arizonan’s pension funds are not the place for the state to try not -tested investments such as virtual currency.”

Despite the blow to Crypto proponents who hope for a strategic reserve of the state, a separate bill was eventually accepted and signed only a few days later in the law. It enables Arizona to create a reserve fund with non -required digital actival funds, which correspond to current legislation on financial products such as traditional shares in the state.

Florida

At the beginning of May, the Sunshine State postponed a few bills that Bitcoin would have added to his state treasury.

Accounts HB 487 And SB 550 Searched to allocate a maximum of 10% of the selected public funds to the best crypto -active, whereby the first taxes and reimbursements in Bitcoin add to the general reserve that it would have created.

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Neither of the Bill made the floor of Florida’s house or the senate because they were drawn at the end of the legislative session on 3 May.

Oklahoma

Oklahoma’s offer to add a Bitcoin reserve failed on 16 April when the senate income and tax committee voted 6-5 against HB 1203, the Strategic Bitcoin Reserve Act.

The bill would have allowed the state Invest up to 5% of the four separate state funds In Bitcoin or another digitally active that the previous year had on average a market capitalization of $ 500 billion dollars. Only Bitcoin meets that Mark, currently.

Despite the vote against the bill, a representative who is expected to vote ‘no’ reversed her voice To support the afternoon of vote, saying that she was convinced by Bitcoin-supporting voters.

Utah

Although not veto was pronounced or voted, the offer of Utah slipped on a strategic Bitcoin reserve in March when a provision that would have made the creation of a reserve made possible from a blockchain account.

The blockchain and digital innovations change HB 2030 passed the Senate of UTAH 19-7 after the reserve provision had been removed, so that the rights of individuals to exploit blockchain nodes, participate in deployments and more. The bill was officially signed by the governor of the State on March 25.

New Mexico

New Mexico’s SB275who wanted to use up to 5% of the state funds of the state to invest in Bitcoin, was submitted After being sent to the tax on senate tax, the business and transport committee at the beginning of February.

By one report Sourcenmthe sponsor of the bill, Republican Anthony Thorntonindicated that he would re -introduce the bill in the future.

Montana

Montana’s Bitcoin Reserve proposal, House Bill 429Staggered after his introduction at the end of January. The bill tried to allocate up to $ 50 million in public funds for Bitcoin, Stablecoins and precious metals.

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Despite arguments from representative Curtis Schomer, who endorsed the bill as a way to diversify state assets and possibly secure higher returns, the proposal in a vote of 59-41 in the house of representatives on 21 February.

South Dakota

South Dakotas HB 1202He suggested allocating up to 10% of the state’s public funds to Bitcoin, was rejected by the House Commerce and Energy Committee in a 9-3 mood on 24 February.

While representative Logan Manhart, the sponsor of the bill, argued that Bitcoin could retain value in inflatoid environments, Matt Clark, the state investment officer of South Dakota, warned against the volatility of the active.

North Dakota

North Dakota’s proposal, HB 1184He tried to explore the feasibility of a Bitcoin reserve, did not succeed in passing the house with a vote of 57-32.

However, that does not mean that the Peace Garden State has completely allowed their backs on crypto-related initiatives. The legislative meeting of North Dakota is still considering a resolution sponsored by the Republicans that encourages the treasurer and investment board of the state to cast selected state funds in digital assets and precious metals, Legiscan to show.

That resolution has accepted a second reading in the North Dakota house and is on the way to the state Senate industry and business committee For further consideration, according to the registers of the government.

Pennsylvania

Pennsylvanias HB 2664 suggested investing up to 10% of the state funds in Bitcoin, but was effectively killed.

The account guided by the Republicans, partly sponsored by Rep. Michael Cabell and Rep. Aaron Kaufer, was introduced for the first time in November. The legislation is said to have authorized the treasurer of the state of Pennsylvania to invest in cryptocurrencies, in which public funds are cast in those digital assets using a secure custody solution, or invested in used products that follow the price of digital assets such as Bitcoin.

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Wyoming

The bill of Wyoming, introduced in mid -January, was rejected by the State Committee on 6 February, with only one in eight legislators who support the initiative, the state of the State of Wyoming legislative power show.

The legislation called for the investment of state funds and permanent funds in Bitcoin. According to the bill, up to 3% of each of the General Fund, the permanent Wyoming Mineral Trust Fund and the permanent Landfonds can be deposited into the largest digital active act through market capitalization.

Ahead

While New Hampshire was the first state to endure a strategic Bitcoinwetwets, a handful of others are still circulating the agencies of legislators nationwide.

North Carolina inspected his digital assets account through the house and moved to the Senate for debate at the end of April.

Texas has SB 21, a bill that may be aimed at Bitcoin and other cryptocurrencies, managed by the State, aimed at Bitcoin, Currently left behind in anticipation of the committeePossibly for further discussion before you promote or reject the bill.

Other states such as Alabama and Minnesota have introduced Bitcoin -reserve actions, but are much further behind in the legislative process.

In total there are approximately 30 accounts with regard to the state of Bitcoin reserves still underway according to data from BitcoinLaws.io.

Additional reporting by Liz Napolitano

Note of the editors: This story was originally published on 27 February 2025. It was last updated with extra details on 11 May.

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