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Six states in the US are advancing Bitcoin strategic reserve legislation, with Texas likely to be the first to pass it.
Overview of Bitcoin Strategic Reserve Legislation Progress in the United States
Recently, several U.S. states are considering or advancing legislation related to Bitcoin as a strategic reserve. These bills aim to allow state governments to invest in Bitcoin as a reserve asset. Here are the latest developments from some states:
Texas
The Texas Senate has passed SB 2334, which authorizes the state government to invest in Bitcoin. The bill has now been submitted to the House for review. If approved, Texas will become the first state in the U.S. to officially include Bitcoin in its reserves.
New Hampshire
The New Hampshire House of Representatives has passed HB 522, allowing the state treasury to use Bitcoin as an investment option. The bill is currently under review in the Senate.
Indiana
The Indiana House of Representatives passed HB 1044, which allows the state treasury to invest in Bitcoin and other cryptocurrencies. The bill has been submitted to the Senate.
Wyoming
The Wyoming House of Representatives has passed HB 143, allowing the state treasury to invest in Bitcoin and other digital assets. The bill is currently under review in the Senate.
Missouri
Missouri is considering the HB 1204 bill, which will allow the state government to invest in Bitcoin. The bill is currently still in the preliminary discussion stage.
Hawaii
The Hawaii State Senate is reviewing Bill SB 2695, which aims to establish a Bitcoin reserve program.
These bills reflect the ongoing interest of various U.S. states in incorporating Bitcoin into their financial reserves. As more states join this trend, the position of Bitcoin in the U.S. financial system may further enhance. However, it remains to be seen whether these bills will ultimately pass and be implemented.