Kentucky and Missouri join rising states exploring Bitcoin reserves

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Legislative efforts model out funding diversification and digital asset integration amid regulatory classification challenges.

Kentucky and Missouri maintain become the most contemporary US states to introduce regulations geared toward organising a Bitcoin reserve, as more yell governments detect digital asset adoption.

The invoice, KY HB376, launched by Snarl Handbook Theodore Joseph Roberts on Feb. 6, would allow the Snarl Funding Price to allocate as much as 10% of extra yell reserves into digital assets, collectively with Bitcoin.

The regulations specifies that eligible digital assets should always maintain a market capitalization exceeding $750 billion averaged over the old calendar twelve months.

Currently, handiest Bitcoin, with its $1.9 trillion market cap, meets this criterion.

“The SEC, the Fed, and even Congress will need to grapple with the right technique to categorise Bitcoin in public reserves — is it a commodity? A security? Something fully new?” stated Anndy Lian, creator and intergovernmental blockchain expert.

Missouri has additionally joined the circulation, with Handbook Ben Keathley submitting Condominium Bill 1217, which may perhaps presumably perchance authorize the yell to protect and accept Bitcoin for yell funds. This marks Missouri’s 2nd Bitcoin reserve invoice, following Senate Bill 614.

At the original time I filed HB 1217 which may perhaps presumably perchance authorize Missouri to protect and accept Bitcoin for yell funds. This could presumably perchance additionally just serve diversify our yell’s portfolio while hedging against inflation. #moleg https://t.co/tokLpGlWMJ

— Win. Ben Keathley (@benKeath) February 7, 2025

The Kentucky invoice involves provisions for yell retirement funds to put money into change-traded products tied to digital assets and establishes custody necessities with multi-occasion governance and regular audits.

The regulations explicitly excludes Central Bank Digital Currencies from popular payment programs for tax tasks.

Kentucky and Missouri join the checklist of states which maintain launched Bitcoin reserve regulations. This checklist already incorporated Arizona, Alabama, Florida, Massachusetts, New Hampshire, North Dakota, South Dakota, Ohio, Oklahoma, Pennsylvania, Texas, Utah, and Wyoming.