Utah has officially emerged from the Bitcoin reserve race after the last minute amendments to the proposed Blockchain Bill Bill Bitcoin.
On March 7, the Utah 230 House Law, which was called the draft law on digital innovation and digital number, was approved with a 19-7-3 votingBut the legislators removed the Bitcoin reserve condition in the final reading, and stripped the most ambitious government bill.
HB 230 was presented for the first time on January 21 by the representative of Utah Jordan Test.
The first repetition of the draft law suggested allowing the treasury secretary in the state to allocate up to 5 % of some public funds, such as calculating the budget of the public fund and the recovery accounts of disasters, to “qualified digital assets”, including Bitcoin, high -density cryptocurrencies, and stablecoins.
However, during the third and final reading of the Senate, the legislators removed the Bitcoin reserve condition and the house of Utah, which originally approved the draft law by reserve, later agreed to amend the Senate in a vote 52-19-4, and concluded the decision.
According to the Senator Kirk A. Collimore, one of the sponsors of the bill, has played concerns about early adoption of such policies a role in stripping the Bitcoin investment plan.
The draft law is now transferred to the ruler Spencer Cox for approval.
The current situation of HB 230
Through this amendment, HB 230 now focuses only on protecting digital assets and friendly regulations to reach Blockchain while dropping any direct participation in the country in encryption investments.
It protects the right to execute Bitcoin, operate a knot, and participate in attention, ensuring that the residents can engage in Blockchain activities without restrictions.
In addition, the draft law prohibits government governments and local governments to restrict the digital assets payments for commodities and legal services.
Among other measures, it also confirms the right to individuals to custody of their assets using self -hosted devices or devices without interference.
Texas and Arizona reserve bills in focus
As of March 10, Texas and Arizona are the closest in terms of legislative procedures to create a state -backed bitcoin reserve for all Bitcoin laws.
Both Bitcoin’s bills in Arizona have already cleared the committee stages and are now waiting for the final floor votes, while the Texas proposal to the House of Representatives is presented.
Many other countries were pushing forward with the bills of encryption. North Carolina, Akllahoma, Kentucky and recently, New Hampshire.
As mentioned earlier in InvezzThe draft law of the House of Representatives in New Hampshire 302 obtained strong support from the two parties, as the Committee for Trade and Consumer Affairs in the House of Representatives has passed the 16-1 vote. Since the committee has 11 Republicans and 7 Democrats, this shows strong support from both sides.
After that, the bill will go to the full house to vote. If it is passed, it will go through another committee before going to the Senate for the final approval.
Utah is now joining five other states, including Montana, North Dakota, Pennsylvania, South Dakota, and Woewang, which rejected proposals for the encryption reserve.
After the state of Utah, it is officially launched from the Bitcoin Reserve Racing: This is the reason for its appearance first
