On February 7, Maryland’s delegate, Kylene Young, proposes a strategic bitcoin reserve law in Maryland, where he joined the latest trend in the country to create a strategic bitcoin strategic at the state level.
The summary stipulates in the proposal, “The creation of the Maryland Bitcoin Fund is a reserve to serve as a reserve balance for the state by investing Bitcoin; and the Secretary of the State Fund is allowed to invest the funds obtained by the state by enforcing some of the gambling violations in Bitcoin.”
Only in: Maryland delegate Kayyin Young suggests “the strategy #Bitcoin Maryland Reserve Law “
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– Coinhuf (coinhuf) February 7, 2025
The Bitcoin Reserve is increasing
As of now, the sixteenth countries of the United States foot He suggested legislation aimed at forming a BTC reserve after Kentucky’s representative Theodore Joseph Roberts suggested his state’s bill.
After the election of Donald Trump for the second period of his presidency, the encryption world expects a regulatory framework for encryption under his new administration with the support of the supporter of sulfo. Besides the state level efforts, David Sacks David Sacks revealed that they evaluated BTC reserves in the federal treasury.
In the BTC Reserve race, there is a stir in the market that Utah can become the first US state to hold a coded currency in its reserves because it made great progress. The draft law has already been passed in the House of Representatives and is now seeking a review of the Senate.
If passed, this will be a major achievement for the encryption community because it will provide the legal status of the largest digital assets. This will also encourage the broader participation and attract institutional investment.
Also read: Bitcoin’s decrease by 15 % decreased, reaches one year lower
