Wyoming Proposes Bill for Bitcoin Investment by State Funds
- Wyoming lawmakers introduced House Bill 0201, allowing up to 3% of state funds to be invested in Bitcoin.
- The bill covers funds like the general fund, permanent mineral trust fund, and permanent land fund.
- Investments can be made directly or through regulated Bitcoin ETPs from registered investment companies.
- The state treasurer must report annually on Bitcoin investments’ performance and custody arrangements.
- Wyoming joins six other states considering strategic Bitcoin reserves, including Texas and Ohio.
House Bill 0201 aims to enable Wyoming’s state treasurer to invest a small portion of state funds in Bitcoin, with strict reporting and security measures in place. This move aligns with a broader trend among states exploring cryptocurrency investments.
