randomm

Utah’s Bitcoin Bill Passes Senate, But State Reserve Proposal Gets Dropped

Utah’s ambitious Bitcoin bill has cleared the state Senate but without its most ground-breaking provision—the establishment of a state-backed Bitcoin reserve.

The HB230 “Blockchain and Digital Innovation Amendments” bill, which initially proposed allowing the state to hold Bitcoin as part of its treasury, has now been significantly altered.

Instead, the measure now focuses on providing Utah residents with fundamental rights related to digital assets. This includes protections for self-custody, the ability to mine Bitcoin, operate nodes, and participate in staking activities.

Utah’s Bitcoin Bill Passes Senate, But State Reserve Proposal Gets Dropped

Utah’s ambitious Bitcoin bill has cleared the state Senate but without its most ground-breaking provision—the establishment of a state-backed Bitcoin reserve.

The HB230 “Blockchain and Digital Innovation Amendments” bill, which initially proposed allowing the state to hold Bitcoin as part of its treasury, has now been significantly altered.

Instead, the measure now focuses on providing Utah residents with fundamental rights related to digital assets. This includes protections for self-custody, the ability to mine Bitcoin, operate nodes, and participate in staking activities.

https://99bitcoins.com/news/utahs-bitcoin-bill-passes-senate-but-state-reserve-proposal-gets-dropped/