Latest News: Wyoming Representative Introduces Legislation for Bitcoin Strategic Reserve Fund

In the latest development, Wyoming Representative Jacob Wasserburger has introduced legislation for the Bitcoin Strategic Reserve Fund. Wyoming lawmakers have introduced House Bill 0201 (HB0201), allowing the state treasurer to invest up to 3% of the state's eligible funds, such as the permanent mineral trust fund and the common school fund, into Bitcoin. Under the proposed law, investments can be made through direct purchases or through Bitcoin ETPs managed by registered investment companies.

Senator Lummis Praises The Bold Step To ensure transparency and accountability, the state treasurer must submit an annual report detailing the performance of Bitcoin investments, custody agreements, market value, and any payments received in Bitcoin. The bill also grants the treasurer the authority to establish necessary implementation rules. Note that Senator Cynthia Lummis emphasized that Wyoming has taken the bold first step towards strategic Bitcoin reserves. She commented that Representative Wasserburger's legislation allowing permanent funds to invest in Bitcoin is a progressive move that will benefit the state's financial innovation leadership.

Bitcoin reserve strategy odds Wyoming is expanding its focus on blockchain and digital assets by exploring cryptocurrency investments for public funds. Wyoming is joining six other states—Oklahoma, Texas, Ohio, Pennsylvania, New Hampshire, and North Dakota—in actively considering establishing strategic Bitcoin reserve funds. It is worth noting that recently, Oklahoma and California have begun working on laws supporting Bitcoin, with California officially introducing the Bitcoin Reserves Strategy Act. Oklahoma state representative Cody Maynard officially announced the introduction of the state's Bitcoin Reserves Strategy Act last Wednesday. In his re-election campaign, Donald Trump became the first presidential candidate to support cryptocurrency, advocating for the United States to become the world's cryptocurrency capital. As more states propose laws supporting Bitcoin, the opportunity for cryptocurrency to become a national reserve currency is growing. DYOR! #Write2Earn #Write&Earn $BTC {spot}(BTCUSDT)