South Dakota is expected to begin debating a bill that seeks to add Bitcoin to its financial reserves, a move that would officially recognize the crypto as part of the state's assets.
“I am proud to say I will be bringing a bill in the South Dakota House that would create a strategic Bitcoin reserve,” Logan Manhart is South Dakota State Representative. Writer On X, Tuesday. “Now is one of the few chances government has at being proactive.”
The bill was never introduced in the House of Representatives of the State. Decrypt Has reached out to find out more details about the timing of and the specifics of the bill.
The push at the state level for Bitcoin Reserves is closely linked to the pro-crypto position of President Donald Trump, which has resulted in renewed interest to integrate Bitcoin into U.S. Financial Policy.
South Dakota's move comes as at least a dozen other states plan to introduce or have proposed similar legislation, including TexasFlorida, Pennsylvania Ohio and Arizona.
Pennsylvania Florida, Texas and Ohio were the next to present a proposal, in December 2024.
In the last few years, many more states have joined this effort. North DakotaNew Hampshire OklahomaMassachusetts, Wyoming, Utah, and other states will be submitting proposals to reserve Bitcoin in 2025.
Arizona went a little further. Approval It has introduced the first section of a Bitcoin reserves bill that, if passed, will permit up to 10% public funds to allocated.
Trump’s campaign in November was a success. Pledged To position the U.S.A. as the Crypto Capital of the World, a National Bitcoin Stockpile will be established.
Last week, Trump took concrete steps to fulfill that promise. Sign up for our Newsletter his first crypto-focused executive order, creating the Presidential Working Group on Digital Asset Markets—a team tasked with exploring policies, including a national crypto reserve.
The group, led by the White House Crypto & AI Czar, will assess the reserve’s feasibility alongside other crypto-related policies.
Sacks in recent times Commentary on the article Statements were made about the potential for a Bitcoin-based reserve. “Yeah, we're going to evaluate that. We have not decided to do it yet, but we need to study that.”
With Trump’s administration actively supporting crypto adoption, expectations are high that more states—and even other nations—will follow suit.
Among them are countries like Brazil, Japan, PolandThen, Russia Bitcoin is a global phenomenon that continues to gain in prominence. Many countries are therefore exploring the same reserve strategies.
Sebastian Sinclair edited the book