A legislative proposal aimed at allowing South Dakota to allocate part of his public funds in Bitcoin. The draft law of home 1202, which was presented by actor Logan Manhart, sought to create a bitcoin reserve by allowing the state to invest up to 10 % of its wallet in the encrypted currency. However, the legislators have postponed the draft law, and they stood effectively in this legislative session.
The failure of the Bitcoin State, with the postponement of legislators in South Dakota
Trade and Energy Committee at South Dakota House HB postponed 1202Prevent him from progress. The draft law aims to allow the state to invest public funds in Bitcoin, and put it in its position among the first to hold a bitcoin reserve.
However, the legislative process was reduced when legislators voted to push the draft law until after the 40 -day session, a move that ended in its chances of this year.
actor Logan Manhart, which was presented The draft law expressed its intention to re -display it in 2026. The delay reflects concerns about organizational uncertainty, market fluctuation, and the risks associated with the use of public funds for encrypted currency investments.
Despite these concerns, Bitcoin’s reserve proposals continue to appear in other states, indicating constant interest in integrating digital assets into public investment strategies.
Meanwhile, the Bitcoin strategy continues to gain traction with institutional adoption as Michael Silor Company It expands its property. Microstrategy, which is now renamed as a strategy, has approximately 500,000 BTC after its last purchase of $ 2 billion.
Fears about volatility and organization
The basic concerns mentioned to postpone HB 1202 were the volatility of bitcoin and the lack of clear federal regulations. The opponents of the draft law have argued that investing in very volatile assets can present public funds for financial risks.
The inability to predict the prices of bitcoin make some legislators hesitant to agree to allocate taxpayers money towards digital asset.
Moreover, Curd regulation Understanding on both federal and state levels played a role in staging the bill. As the legal scene surrounding the Bitcoin reserves continues to develop, legislators expressed their warning against moving without clearer instructions. The postponement follows similar rejection operations in other states, such as North Dakota and Montana, as Bitcoin reserves also failed to obtain approval.
Although HB 1202 failed to traffic, discussions on state -controlled Bitcoin reserves are expected to continue. Some states, including Florida, Missouri and Arizona, have made similar proposals, while maintaining the debate about cryptocurrency investments.
At the time of the press, the bitcoin price is 91,824 dollars, which reflects a 4 % decrease over the past 24 hours. The maximum market is $ 1.82 trillion, with 24 -hour trading volume of $ 48.24 billion, indicating an increase of 180.96 %.
Ronnie Mogndi
Ronny Mugendi is a four -year experienced encryption journalist, as he contributed greatly to the various media in cryptocurrencies and technologies. With more than 4000 articles published through various media, it aims to inform and teach more people to the Blockchain and Defi world. Outside his career in the press, Rooney has a bicycle riding and exploring new paths and landscapes.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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