The Utah State Senate has approved the HB230 bill, aimed at regulating blockchain and digital innovations. However, a key provision that could have made Utah the first state in the U.S. with its own Bitcoin reserve was removed from the document. Now, the bill provides residents with only basic protections for cryptocurrency storage, the right to mine Bitcoin, run nodes, and participate in staking. Lawmakers considered the idea of a BTC reserve premature and removed this provision during the third reading.

Meanwhile, tension remains in the cryptocurrency market. Arthur Hayes, co-founder of BitMEX, noted that Bitcoin could continue to decline if it fails to hold the 78000. The situation remains uncertain, and investors are closely monitoring further developments. 📉🚀 #Bitcoin #Utah #Crypto #Blockchain #HB230