Missouri lawmakers advance new Bitcoin strategic reserve bill

US lawmakers successful Missouri precocious a revived Bitcoin strategical reserve measure past week, sending it to the House Commerce Committee arsenic portion of the adjacent measurement successful the legislative process.

House Bill 2080 was referred to the House Commerce Committee connected Feb. 19 for review, wherever it volition acquisition a nationalist hearing, a committee ballot and perchance person recommendations for changes earlier returning to the House for statement and a last ballot to walk it done the chamber.

Missouri treasurer tin store BTC for 5 years

Missouri Representative Ben Keathley introduced House Bill 2080 successful January, which proposes allowing the authorities treasurer to “invest, purchase, and clasp cryptocurrency utilizing authorities funds,” according to the legislation’s summary.

The authorities treasurer tin judge gifts, grants, and donations from Missouri residents oregon authorities entities to assistance fund the reserve. 

The treasurer is besides authorized to store the Bitcoin (BTC) for 5 years, aft which it tin beryllium transferred, sold, oregon converted into different token. Transactions involving overseas countries oregon entities extracurricular of Missouri are prohibited.

Another portion of the measure proposes allowing authorities entities to accept crypto approved by the Department of Revenue for citizens to wage taxes, fees, fines, oregon different expenses owed.

Related: Bitcoin backmost to grounds fearfulness levels arsenic it wipes play gains

Asset manager VanEck speculated past twelvemonth that strategical Bitcoin reserves successful American states could drive much than $23 cardinal successful demand if adopted. 

Source: MartyParty

A day for the nationalist proceeding hasn’t been acceptable yet; however, the authorities has a projected effectual day of Aug. 28, according to the Missouri House of Representatives.

If 2080 passes done the House, it volition beryllium sent to the Senate for reading, committee review, level debate, and a vote. After the Senate, the measure goes to Missouri Governor Mike Kehoe’s table for signature oregon veto.

A akin measure died successful the committee stage

Keathley introduced a akin bill, House Bill 1217, successful February past year; however, it failed to beforehand past the committee signifier and was yet abandoned.

House Bill 1217 was referred to the House Special Committee connected Intergovernmental Affairs, which held a nationalist proceeding successful March 2025, but it didn’t receive a committee ballot to determination guardant to the House for statement and a vote.

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