- Minnesota and Alabama lawmakers are pushing bills to allow state investments in Bitcoin, including enabling tax payments and retirement account options.
- These proposals are part of a broader national trend, with 47 state-level Bitcoin bills introduced in 26 states as a hedge against inflation.
Alabama and Minnesota are moving forward with the establishment of Bitcoin (BTC) reserves as lawmakers push for pro-Bitcoin legislation. These would allow the states to invest in BTC and explore digital asset reserves.
In Minnesota, a bill called the Minnesota Bitcoin Act would allow the state’s investment board to put state funds into Bitcoin and other cryptocurrencies, let employees add crypto to their retirement accounts, let residents pay taxes with Bitcoin —you get the idea.
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Meanwhile, Lawmakers in Alabama are pushing for similar bills, mostly Senate Bill 283. Though they don’t mention Bitcoin by name, they only allow investments in digital assets with a market value of at least US$750B (AU$1.16T). With that in mind, well, Bitcoin is the only qualifier.
State Bitcoin Reserves
The push for state Bitcoin reserves is becoming a hot topic for many politicians and lawmakers across many US states. We’re talking about around 47 state-level Bitcoin bills introduced in 26 states, of which 41 are currently live. This is part of the ongoing effort to use the cryptocurrency as a hedge against inflation.
Though some states have already rejected the proposals, like Montana, in which Republican lawmakers rejected the idea, calling the bill a “speculation with taxpayer dollars”.
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Similarly, lawmakers in Wyoming (which is ironic, given how pro-crypto the state has been for many years) and Pennsylvania have either paused or withdrawn their BTC reserve plans.
For instance, South Carolina recently proposed legislation allowing its treasurer to allocate up to 10% of certain state funds to digital assets.
Oklahoma’s House Bill 1203—permitting crypto asset reserves—passed overwhelmingly in the lower chamber and now awaits Senate review.
Even Texas has taken steps by passing Senate Bill 21 to establish a Bitcoin strategic reserve, pending gubernatorial approval, and similar initiatives have been introduced in Arizona and Utah, though Utah later revised its reserve language.
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