State-Level Bitcoin Reserve Proposals Face Rejection
- Over 20 U.S. states have considered legislation for Bitcoin reserves, but many bills face uncertainty.
- Montana’s House Bill 429, proposing $50 million in public funds for Bitcoin, was rejected with a 59-41 vote.
- South Dakota’s HB 1202, suggesting a 10% allocation of state funds to Bitcoin, was declined by a 9-3 committee vote.
- Pennsylvania’s HB 2664 aimed to invest up to 10% of state funds in Bitcoin but did not proceed.
Despite interest from over 20 states in establishing Bitcoin reserves, recent proposals in Montana, South Dakota, and Pennsylvania have been rejected due to concerns about volatility and feasibility.
Source (2.6)https://decrypt.co/308009/u-s-state-bitcoin-reserve-plans-hit-roadblock-as-multiple-bills-rejected?rand=52368
