American countries are speeding up their efforts to integrate the cryptocurrency into the reserve, as Utah passes through the exploration project and Kentuccy is preparing to present the Bitcoin reserve bill.
Utah, Kentucky is preparing for a bitcoin bill
The tremendous collapse: With the superpowers ’vote, Utah is the second country in the country to pass a bitcoin strategic bill outside the committee.
Thanks for leading Jordanteuscherand @treasoreroaksThe Senator Colimore as well as the front thinking approach in Utah. pic.twitter.com/cbswthcdxw
– Dennis Porter (Dennis_porter_)) January 28, 2025
The Utah State Council Committee, led by actor Jordan Tex and Treasury Secretary Marlowe Ox, approved a draft law that allows the state to invest in encrypted currency. The draft law has now been submitted to vote for the Senate. If it is passed, Uta will become the second country in the country that approves a bitcoin strategic budget bill at the committee level. This legislation can pave the way for the state to invest in bitcoin and other digital assets.
Meanwhile, the representative of the state of Kentucky TJ Roberts has announced plans to introduce Bitcoin’s reserve legislation in the first session of the General Assembly. The move follows the announcement of the representative of the state of South Dakota Logan Manhart recently that it will submit a bill similar to the creation of a strategic reserve for bitcoin in his term. Manharta described this initiative as one of the “few opportunities for governmental action”.
On January 27, Arizona also presented an invoice to allow the investment of public funds in Bitcoin and other digital assets. Previous reports indicate that up to 20 strategic Bitcoin strategic bills can be submitted, with some countries that are likely to consider multiple proposals.
Amid these developments, it is said that the administration of former President Donald Trump is preparing to adopt Bitcoin reserves at the national level. However, the CEO of Ripple Brad Garlinghouse called for a more diverse approach. In a recent publication on X, he argued against Bitcoin Maximalism, and recommends a wider encryption reserve that includes Ripple (XRP) and ETHEREUM (ETH) alongside Bitcoin to ensure a more balanced and fair encryption policy.
