South Dakota Lawmaker To Introduce Bill For Strategic Bitcoin Reserve
The post South Dakota Lawmaker To Introduce Bill For Strategic Bitcoin Reserve appeared on BitcoinEthereumNews.com.
Countries worldwide are exploring the adoption of a strategic Bitcoin reserve, primarily influenced by US President Donald Trump’s pro-crypto stance. Over the last few months, several US states have proposed and passed the Bitcoin bill. In a recent development, South Dakota has also joined the rally, introducing a Bitcoin proposal. The US states’ active participation in Trump’s Bitcoin proposal highlights the growing interest in recognizing Bitcoin as a reserve asset. This trend is expected to continue, as several countries are predicted to adopt Bitcoin as a strategic reserve in the near future. South Dakota To Adopt a Strategic Bitcoin Reserve In his recent X post, Logan Manhart, the South Dakota State Representative, expressed his interest in introducing a strategic Bitcoin reserve. Acknowledging it as a unique opportunity to become proactive, Manhart stated, “I am proud to say I will be bringing a bill in the South Dakota House that would create a strategic bitcoin reserve.” Notably, South Dakota’s move reflects a growing trend among US states, with at least 12 states already proposing or passing a Bitcoin bill. These states include Florida, New Hampshire, Pennsylvania, Ohio, North Dakota, Oklahoma, Texas, Wyoming, Massachusetts, Utah, and Arizona. Arizona Becomes the First US State To Approve a Bitcoin Reserve Bill On January 27, the Arizona Senate approved the Arizona Strategic Bitcoin Reserve Act (SB1025). Becoming the first US state to approve the Bitcoin bill, Arizona can invest up to 10% of public funds in Bitcoin. Interestingly, the Arizona State Senate Finance Committee passed the bill with a five to two vote. The bill allows the US Treasury to store government Bitcoin holdings. In addition, it will also provide a secure and segregated account for other public funds to safely store their digital assets. 13 US States Echo Trump’s Bitcoin Vision Pennsylvania was one…
Filed under: News - @ January 29, 2025 9:18 am