The Economic Development and Manpower Services Committee in Utah approved a draft law that allows the state to allocate public funds to invest in digital assets.
If the draft law completes the legislative process and receives the approval of the ruler, it will be secret on May 7, 2025.
Utah Green lights up digital asset investments
Blockchain and digital innovation (2nd Sub. HB 230) has moved forward in the legislative process in Utah. This development comes after Arizona has submitted a bill to create a strategic bitcoin reserve. Utah is now the second country to pay a similar initiative.
The actor Jordan Test presented the original draft law, HB 230. He expressed his enthusiasm over the leadership of Utah in Blockchain innovation.
“While the state of Utah is the eleventh country that provides similar legislation, we will be the first to pass. to publish On x (previously Twitter).
It is worth noting, on January 28, a The second alternative A copy of the bill has been presented. This law greatly reduces the state’s exposure to the volatility of digital assets. It is dedicated to allocate public funds for digital assets from 10 % to 5 %.
In addition to reducing exposure to investment, the new version improves regulations division and vocal restrictions on mining digital assets. While basic regulations and definitions remain largely unchanged, these amendments aim to enhance organizational clarity.
Committee voice 8-1-1 in favor of the revised draft law. He was appointed to move forward to the full house to vote. If approved, it will pass to the Senate for further review and vote. If both councils pass the legislation, it will then be sent to the ruler for the final approval.
Kentucky and South Kentucky joins the Bitcoin Strategic Race
Utah is not alone in pushing it to adopt digital assets. Other states, including Oklahoma, Texas, Massachusetts, and Woeing, presented similar legislation. Now, more countries join the race.
In Kentucky, the representative of the state TJ Roberts moved to X, pledging to continue his efforts to establish the state as “the world of encryption in the world.”
He stressed that it is time to complete the battle as it is preparing to present the Bitcoin Strategic Reserves in the coming days.
“I will present Bitcoin’s strategic reserve law next week! I believe in honest money and free markets. Kentucky needs encryption,” mail Read.
South Dakota also joins the movement. The representative of the state, Logan Manhart, expressed his support in the last post on X.
“I am proud to say that I will bring an invoice at the South Dakota house that will create a Bitcoin Strategic Reserve,” Manhart books.
Disintegration
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