More than 20 between the 50 states of the United States, Bitcoin in order to invest public funds into digital assets $86,724.40 The designs for their backup plans brought up. However, in some states in recent weeks, these bills have stopped their progress with negative results in various parliamentary voting.
State decision processes
Montana’s bill envisaged the guidance of public funds up to $ 50 million to Bitcoin, stablecoin and precious metals, while the bill introduced in July came up in late January. This bill was rejected by 59-41 votes in the Montana House of Representatives. Similarly, the HB 1202, which foresees a 10% fund allocation in South Dakota, was abandoned by receiving 9-3 votes in the relevant sub-committee.
Similarly presented in North Dakota, Pennsylvania and Wyoming did not receive the desired support in the parliamentary processes. The North Dakota bill was rejected by the difference of HB 1184, 57-32 votes, while the relevant bills in Pennsylvania and Wyoming were either paused or completely canceled during the draft stages.
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Developing situation and other states
Among the state bills, regions such as Utah, Texas, Oklahoma and Arizona made progress, while innovative approaches drew attention. The bill of blockchain and digital innovation changes in UTAH made it possible to direct the public fund to crypto assets (approval) by 5% with a positive vote in the income and taxation sub -committee. Texas, on the other hand, was on the agenda with two separate drafts on Bitcoin donations and digital payment transformations, which envisage 1 %of the general income funds into digital.
In the House of Oklahoma, HB 1203 progressed at the scope of the strategic Bitcoin reserve with 12-2 votes, while the Arizona Senate Finance Committee submitted SB 1025 to the approval of 10% of the public funds to digital assets. The fact that approximately 18 bills continue to be discussed in different states shows that the debate on the potential use of crypto assets in public finances continues.
The bills presented throughout the USA are negatively in some states, while new regulations are made in other regions. Votes and discussions in the Assembly processes show that different approaches are adopted on how digital assets can play in the management of public funds.
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.
