Missouri Advances Bitcoin Strategic Reserve Bill to House Committee
- House Bill 2080, introduced by Representative Ben Keathley, allows the Missouri treasurer to invest in and hold Bitcoin using state funds.
- The bill was referred to the House Commerce Committee on February 19 for review and public hearing.
- The state treasurer can store BTC for five years before transferring or converting it into another token.
- The legislation also permits government entities to accept cryptocurrency for tax payments, fees, and fines.
- If passed, the effective date of the bill is proposed for August 28.
This legislative move could significantly impact how state funds are managed and could lead to increased demand for Bitcoin, with estimates suggesting over $23 billion in potential demand if adopted broadly across states.
Should House Bill 2080 pass through the House, it will proceed to the Senate for further consideration before reaching Governor Mike Kehoe’s desk for approval or veto. (Source)
