On February 4, South Dakota Logan Manhart announced that his mandate may soon become the first to bolble the Bitcoin Strategic Bill (SBR), citing the short legislative session in South Dakota and an imminent deadline in mid -March. “South Dakota has one of the shortest legislative sessions in the country. South Dakota is likely to be the first state in the country. to publish On x.
One of the users asked whether the legislative body was still in the session, noting that a common false belief was that it ended in January. “Yes, he goes until the second week of March. 40 legislative days,” Manhart explained.
Will South Dakota be the first state of Bitcoin?
The motivation for the creation of the Bitcoin Strategic Reserve in South Dakota appeared when Manhart revealed for the first time, on January 28, “I am proud to say that I will attend an invoice at the South Dakota house that creates the Bitcoin Strategic Reserve. Now it is one of the few opportunities that the government has to be Premium.
house DraftIt was presented on January 30, it is a way to this initiative. The legislation, presented by Manhart as a major shepherd and supported by actors Aaron Elliard, Phil Jensen and Dylan C. .
The draft law shows that the custody of the acquired BTC must be arranged either through a safe solution to the nursery supervised by the state itself, or by a qualified guardian, or through a trading product for exchange by federal organizers. They are the details of more details of the strict requirements for preserving the safe keys, including multi -party governance, encrypted storage, and comprehensive planning to recover from disasters.
The proposed measure witnessed his first reading at home on February 3, and after that he was sent to state affairs for more study.
Manhart’s comments appear against the background of an intensification competition between multiple American countries to become the first to create SBR. Although a number of states have entered or enjoyed legislation designed to create such reserves, South Dakota and Utah recently occupied the center in discussions that may cross the finish line first.
Popular demand: “SBR” display by default.
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Bitcoin Laws (Pitcoin_laws) February 4, 2025
According to Bitcoinlaws.io, 14 states have already submitted a SBR formation. Utah, which has become the eleventh country that is doing it on January 20 under the leadership of actor Jordan Test, has just 45 days at its legislative session to agree to its proposal or rejection.
Dennis Porter, CEO of the Satoshi Action Fund, has argued that the compressed timeline in Utah, along with strong political support, makes the main competitor pass his bill in front of any other country. “Either sink or swimming in 45 days, Porter said earlier this week:” No other country is a faster calendar, and no one else has political momentum and the power of will to accomplish it. “
While states such as South Dakota and Utah are working on legislative measures in their short sessions, federal discussions on bitcoin reserves began to crystallize.
On February 4, during a press conference on the digital assets it hosted at the White House, the Senate, and the leadership of the House of Representatives for the first time, Crypto CZAR DAVID SACKS from Trump revealed that exploration at the federal level of the ongoing Bitcoin reserve. “We evaluate the Bitcoin Reserve. One of the first things we will look at in the supervisor. The concept of the sovereign wealth box is separate.”
At the time of the press, Bitcoin was traded at $ 98,480.
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