Montana’s effort to invest in Bitcoin public funds was foiled on Friday after a bill failed to pass the House of Representatives.
House Bill 429Curtis Schomer introduced the bill earlier this week, which sought to create an account for a revenue stream that could be used to allocate up to 50 million dollars to crypto, precious metals, or stablecoins.
Schomer said that the goal was to increase returns on traditional bonds and diversify state assets.
Bitcoin (BTC), the digital currency that meets the criteria of the law with a market cap of $1.8 trillion, has been met by strong opposition among lawmakers. culminating In a range of 41-59 You can vote for any candidate you like. In the House
Montana has now joined a list of other states who have also rejected proposals for Bitcoin reserves. North Dakota, WyomingThen, Pennsylvania.
Montana may have chosen caution but the movement to include cryptos in public finances is growing elsewhere. Several other states are moving more quickly than the federal level.
According to Bitcoin Reserve Tracker, there are currently 19 proposals pending in states. Arizona, Illinois Kentucky, Maryland Oklahoma New Hampshire and Texas are just a few of the many places where you can find us.
Utah’s Blockchain and Digital Innovation Amendments Bill, which would allow the state treasurer up to 5% to be allocated to digital assets by the state, has not yet been passed.
Arizona Senate Finance Committee The following are some of the most advanced ways to learn more about each other A bill has been proposed that allows up to 10 percent of all public funds (including pensions) to be invested into crypto.
If the bill is approved, it will be sent to the House of Representatives to continue its consideration.
Texas also has two separate bills in the works: permitting Bitcoin will receive 1% and the other 2% of general revenue funds. Focused on Bitcoin donations and cryptocurrency payment conversions
Among them are countries like Switzerland, Brazil, JapanThen, Russia Bitcoin is also being considered as an option for national reserves.
Sebastian Sinclair edited the book
