Utah Senate passes bitcoin bill, but removes bitcoin reserve provision
2025-03-10 02:29:56
On March 10th, according to Cointelegraph, the Utah Senate has passed the HB230 "Blockchain and Digital Innovation Amendment Bill" bill, but removed the provisions that originally allowed the state Treasury to invest in bitcoin. The bill passed with a 19-7-3 vote and will be submitted to Governor SpencerCox to sign into law. The current version only guarantees the basic cryptocurrency rights of Utah residents, such as bitcoin custody, mining, running nodes and participating in staking, etc. The original reserve provision allowed the Treasury to invest up to 5% of its funds in digital assets with a market cap of more than $500 billion, and currently only bitcoin meets this standard. However, the provision was removed during final consideration, and the House subsequently accepted the amendment with a 52-19-4 vote.
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