The post US States Look to Bitcoin? South Carolina Bill Surface appeared on BitcoinEthereumNews.com.

South Carolina introduced the “Strategic Digital Assets Reserve Act of South Carolina.” State lawmaker Jordan Pace introduced the bill as Kentucky and Arizona embrace BTC. The bill proposes the South Carolina treasurer to create a Bitcoin reserve of up to 1 million BTC. South Carolina has taken a significant step toward potentially allowing Bitcoin into its state financial strategy. State Representative Jordan Pace introduced the “Strategic Digital Assets Reserve Act” (House Bill 4256) on March 27.  The proposed legislation would permit the state treasurer to allocate up to 10% of certain state funds into cryptocurrencies, with a specific emphasis on Bitcoin. If enacted, South Carolina would join a growing number of US states exploring Bitcoin as a potential strategic reserve asset. What Does South Carolina’s Bitcoin Reserve Bill Propose? HB 4256 specifically enables the current South Carolina treasurer, Curtis Loftis, to establish and manage a state Bitcoin reserve. The text references a potential holding ceiling of up to 1 million BTC, language that mirrors ambitions discussed related to federal plans under the Trump administration.  If adopted, these state Bitcoin holdings could potentially be allocated across various state accounts, including the General Fund and the Budget Stabilization Reserve Fund (often called a “rainy day” fund).  Related: Does Strong GDP Matter if Fed Policy is King? Hayes’ Macro Take Revisited According to tracking data from Bitcoin Law, approximately 42 similar Bitcoin reserve-related bills have been introduced across 24 states to date, with around 36 reportedly still active legislative items. How Does This Fit Broader US Crypto Adoption Trends? This state-level proposal comes as related activity occurs nationally. Earlier this month, President Trump signed an executive order aimed at creating a federal Strategic Bitcoin Reserve, intended to comprise assets seized via forfeiture cases rather than new purchases.  Separately, Arizona has advanced two bills…

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Filed under: News - @ March 28, 2025 2:25 pm