The American state of Missouri has presented a strategic baccalaureate bill from Bitcoin II aimed at bringing the leading cryptocurrency in the investment play book.
The Parliament’s Bill 1217 proposes the establishment of the Bitcoin fund managed by the state by allowing the Fund Secretary to invest in BTC and keep it as a hedge against inflation.
The draft law was presented by actor Ben Keathley on February 7, and it will “allow Missouri to keep bitcoin and accept the state payments,” the legislator books In a modern x publication.
What is the House Law 1217?
The main goal of the proposed draft law is to integrate Bitcoin into the financial system of Missouri, allowing the state to obtain BTC as part of its investment strategy.
If passed, it will establish a Bitcoin strategic reserve box, run by the treasurer, purchase, storage and acceptance of BTC under specific circumstances.
One of the main provisions of the draft law is that government agencies in Missouri will be required to Bitcoin for various payments, including taxes, fees, fines and other fees related to the state.
However, those who pay in BTC will be required to cover the paid treatment fees.
HB 1217 also defines a long -term detention strategy, which requires that any Bitcoin currency collected by the state must be held for at least five years before being transferred or sold.
Moreover, it allows Missouri residents and government entities to donate Bitcoin to the state reserve fund, thus creating an additional BTC channel to flow into state reserves.
As the only supervisor, the state treasurer will carry the ability to invest, buy and manage Bitcoin using public funds.
As of now, the proposed law is scheduled to enter on August 28, although this timeline may turn depending on legislative discussions. A second hearing of the draft law has not yet been set.
Just one week before HB 1217 footSinator Missouri Travis Fitzotter submitted the Senate Bill 614. It suggests allowing the Secretary of the State Fund to allocate up to 10 % of public funds in Bitcoin.
Unlike HB 1217, which imposes that government agencies accept bitcoin for various payments, SB 614 does not include such a condition.
In addition, it seeks to protect individual rights in Bitcoin for self -reserve and support mining activities within the country.
Other bitcoin reserve initiatives
Similar initiatives have appeared across various levels in the other United States, where Utah states the charge.
On February 6, the House of Representatives Law in Utah 230 succeeded in progress in the State Council and is now heading to the Senate.
The draft law, presented by the actor Jordan Tishr, will allow the Fund Secretary to the state to allocate up to 5 % of some public funds in Bitcoin, high -drawing digital assets and nails.
On the same day, Invezz stated that the strategic Bitcoin reserve law was introduced in New Mexico.
Meanwhile, in late January 2025, Arizona and Illinois have advanced discussions about their bills.
At least 17 US states have proposed or actively discussing bitcoin reserve policies.
Kentucky, New Hampshere, Northern Dakota, Wyoming, and South Dakota are among the states that explore similar legislation.
Latters appeared in Missouri to integrate the Bitcoin Bill in the state reserves first on Invezz
