Utah’s Blockchain and Digital Innovation Amendments bill, initially proposing a Bitcoin reserve, had the clause dropped before the final Senate vote on March 7. The bill, now known as House Bill 230, was passed without the reserve clause and is awaiting Governor Spencer Cox’s approval. The state was expected to be the first to establish a Bitcoin reserve due to its legislative window and political momentum. However, the clause was removed, focusing now on protecting rights to engage in blockchain activities and providing custody protections for digital assets.
The Bitcoin reserve race has now shifted to Texas and Arizona, with both states progressing legislation to establish their own reserves. Arizona’s bills are awaiting final votes while Texas’ proposal has moved to the House. Other states like Kentucky, New Hampshire, Illinois, and Iowa have Bitcoin reserve bills in progress but are further behind in the process. President Donald Trump also signed an executive order on March 7 for a Strategic Bitcoin Reserve, funded by assets seized by the federal government.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
