#TariifHODL Utah is getting closer to making its strategic bitcoin reserve project a reality. The initiative was approved in the state House of Representatives with a vote of 8 to 1 and is now moving to the Senate. Dennis Porter, CEO of the Satoshi Action Fund (SAF), celebrated the news on social media X.

According to the information available on the TrackBill platform, the project known as HB230 grants the state treasury the authority to invest public funds in crypto assets, establishes guidelines for their custody and management, creates a regulatory framework for investment in stablecoins, and authorizes the state treasurer to participate in staking and cryptocurrency loans under specific conditions.