In the Montana Legislative Assembly, Bitcoin within the scope of the state’s crypto asset reserves $88,007.81The proposal to invest in the investment was voted. The proposal envisaged to create a special income account that the state would invest in precious metals and digital assets. While the law proposal caused controversy, the distribution of votes took place to draw attention.
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The proposal identified digital assets as “crypto currencies, local electronic assets, stablecoins, unique digital assets and other digital assets” and determined as elements that provide economic or accessible rights. In addition, the average of the market value of the assets to be invested in the average year of the calendar year was required to be over $ 750 billion. Within the scope of this criterion, only Bitcoin was considered to be appropriate.
Bitcoin reserve voting end
The vote was rejected by 41 Democrats and 18 Republican, reportedly supported by 40 Republican and 1 Democrat. The law proposal was submitted to the state council after passing a committee vote. This development led to the discussion of the investment policies of digital assets in the state. In general, investors’ belief in the story of federal strategic Bitcoin reserves in general was significantly shaken due to the fact that even Republicans could not get the entire game.
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Similar enterprises have come to the agenda in other states. West Virginia Senator Chris Rose offered an offer that allows the state to invest in crypto assets up to 10 %of public funds. Texas, Utah and Arizona also learned that similar proposals were evaluated.
This vote in Montana led to the discussion of the place of digital asset investments on state policies and future expectations. Different distribution of votes in the state parliament revealed their differences of opinion on the subject.
“Rejection of the proposal reflects the reservations of the integration of digital assets into state policies.” Expressing the opinion in the form of the authority, said that different approaches will continue.
Kevin: The rejection of the proposal should be considered as an indicator of the cautious approach in the integration of digital assets.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
