YEREVAN (CoinChapter.com) — Montana lawmakers have moved a Bitcoin reserve invoice ahead, making it the fourth U.S. state to succeed in this stage. The Home Enterprise and Labor Committee authorised Home Invoice No. 429 with a 12-8 vote on Feb. 19. All Republicans voted in favor, whereas all Democrats opposed the measure.
The invoice would create a particular income account permitting investments in Bitcoin, stablecoins, and valuable metals. To qualify, digital property will need to have had a market cap above $750 billion during the last calendar 12 months. Bitcoin is at the moment the one cryptocurrency that meets this requirement.
Montana Joins Different States in Bitcoin Reserve Efforts
Montana now joins Utah, Arizona, and Oklahoma in advancing a Bitcoin reserve invoice to the Home. Amongst these states, Utah has made essentially the most progress, being the one one the place such a invoice has handed the Home.
Different states, together with Illinois, Kentucky, Maryland, New Hampshire, New Mexico, North Dakota, Ohio, Pennsylvania, South Dakota, and Texas, have launched related payments. Nevertheless, none have reached Montana’s present stage within the course of.
Amendments Take away Custodian Requirement
The invoice additionally initially required that funds be held by a certified custodian or an exchange-traded fund (ETF). This requirement was eliminated in amendments earlier than the committee vote.
If handed, the regulation would take impact on July 1. By July 15, the state treasurer may switch up to $50 million to the particular income account for Bitcoin, stablecoins, and valuable metals investments.
Federal Bitcoin Reserve Invoice Efforts Proceed
On the federal stage, U.S. Senator Cynthia Lummis continues to be engaged on a Bitcoin reserve invoice, but it surely has not but moved ahead.
As well as, with Montana’s Bitcoin invoice progressing, extra states could introduce or advance related laws. The following step is a full vote within the Montana Home.
Utah has made essentially the most regulatory progress, being the one state to have a Bitcoin reserve invoice handed by way of the Home. The Strategic Bitcoin Reserve Invoice (HB230) cleared the Utah Home of Representatives on February 6, 2025, making it the furthest-advanced state-level Bitcoin reserve invoice within the U.S.
Launched by Consultant Jordan Teuscher on Jan. 21, 2025, the invoice permits the state treasurer to allocate up to five% of sure public funds into Bitcoin and different high-market-cap digital property. Above all, lawmakers supporting the invoice argue that including Bitcoin to the state’s funding portfolio may function a hedge in opposition to inflation and monetary instability.