Utah Proposes Legislation for Public Fund Investment in Digital Assets
- Utah’s bill allows state treasurer to invest up to 10% of public funds in digital assets.
- Eligible investments require a market cap over $500 billion or adherence to strict stablecoin criteria.
- The bill mandates secure storage of cryptographic keys and supports self-custody rights for individuals.
- If passed, the legislation will be effective from May 7, 2025.
- Utah follows ten other states proposing similar digital asset investment measures.
The Utah legislation aims to authorize up to a 10% investment from specific state accounts into digital assets, contingent on meeting certain market capitalization or stablecoin criteria. If approved, it will take effect on May 7, 2025.
Source (2.6)https://decrypt.co/301995/utah-proposes-bill-to-invest-public-funds-in-crypto?rand=52368
