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- Gate Alpha 2nd Points Carnival Round 4 Hot Launch! Trade to Share $30,000 MORE & Alpha Points
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Bitcoin (BTC) Bill Passed in One of the US States, But the Most Important Clause Has Been Removed!
As the race for Bitcoin (BTC) reserves continues in the US*** states, Utah recently passed a bill known as HB230*** titled ***"Blockchain and Digital Innovation Changes" to integrate Bitcoin into the state's legal framework.
However, the bill has undergone a significant change. Accordingly, a key provision that would have made Utah the first U.S. state to have its own crypto reserve was removed before final approval.
The current version of the bill only protects Utah residents' basic cryptocurrency rights, such as Bitcoin storage, mining, running nodes, and participation in staking.
By contrast, under the original reserve clause before the amendment, the Utah Treasury would be able to invest up to 5% of the funds in digital assets with a market capitalization of more than $500 billion. While currently only *Bitcoin meets this standard, this clause was removed during the last vote and later passed by the House of Representatives in a vote of 52-19-4.
While there is no expected positive news from Utah for BTC reserves, two Arizona Bitcoin reserve bills and a Texas bill are the closest to becoming law. As a result, 25 of the 31 Bitcoin reserve state bills introduced are still valid. These include bills from Illinois, Iowa, Kentucky, Maryland, Massachusetts, New Hampshire, New Mexico, North Dakota, Ohio and Oklahoma.