The bill regarding the Bitcoin Strategic Reserve, which was brought to the agenda in the state of Missouri, was sent to the Commerce Committee of the State House of Representatives for consideration. The regulation in question stipulates that only Bitcoins obtained through donations will be kept in the state treasury.
Content of Bitcoin Reserve Fund
The proposal, submitted to the Parliament with the code HB 2080, aims to establish a “Bitcoin Strategic Reserve Fund” in the Missouri treasury. This fund will be created from Bitcoins donated by ordinary citizens or organizations, rather than direct government purchases. According to what was reported, the main structure of the fund and its storage processes were detailed in the draft law.
Basic Articles in the Legal Regulation
While the bill emphasized the decentralized structure of Bitcoin, it was envisaged that the asset would be regulated as a digital value. In addition, the custody of the fund will be based on the oversight of the state treasurer and secure digital storage standards will be applied for donated Bitcoin assets.
The bill shows that the state aims to minimize possible risks, especially by referring to the use of cold wallets and advanced security methods in storing digital assets.
In the information submitted to the committee to which the law was sent, it is stated that HB 2080 will make it mandatory for Bitcoin donations to be received within the scope of the fund to be kept for five years.
Five-Year Retention Condition and Process
One of the striking aspects of the prepared regulation is that the Bitcoins transferred to the fund will be held for at least five years. This provision aims to prevent short-term buy-sell transactions or sudden movements due to price fluctuations.
Another article that stands out in the bill is the clear statement that there will be no Bitcoin purchases from the state budget. Thus, it is stated that reserves will be created only through donations, without the use of public resources.
Within the framework of the relevant legal process, the Trade Committee will be able to evaluate the regulation and then refer it to the General Assembly of the Parliament for the possibility of becoming law. If HB 2080 is passed, Missouri will be among the states turning to digital asset reserves.
These developments show that different practices regarding the use of crypto money and digital assets have come to the fore in both the corporate field and the public sector. Currently, the process of evaluating the bill in question in the committee continues; It will be clear in the coming period whether the final stage will be taken or not.
