These U.S. States Have Passed Bitcoin Reserve Laws
Three states have approved Bitcoin reserve legislation, five have rejected it, and 17 are considering it. Pending states include Alabama, Florida, Georgia, Idaho, Illinois, Kansas, Kentucky, Maine, Maryland, Michigan, Missouri, New Mexico, North Carolina, Ohio, Oklahoma, Rhode Island, and West Virginia. Definitions of "Bitcoin reserve" vary; some states aim to purchase Bitcoin while others focus on retaining seized digital assets. New Hampshire was the first to adopt a Bitcoin reserve law, allowing up to 5% of public funds in digital assets with strict market capitalization requirements. Arizona's attempts faced vetoes from Governor Katie Hobbs, who opposed untested investments in retirement funds. Texas established a Strategic Bitcoin Reserve with protections against dismantling. Other states like Montana, South Dakota, and Utah saw proposals fail due to political resistance and concerns over Bitcoin's volatility and legal liabilities.
