#USCryptoreverve

Utah has taken another step towards the possible authorization for the state treasurer to invest public funds in bitcoin, as its bill "Amendments to Digital Innovation and Blockchain" has been formally presented to the Senate Revenue and Taxation Committee.

The bill, titled "HB 230", was approved by the House of Representatives with a margin of 8 to 1 in January, and moved to the Senate on February 7 for a first reading. The initiative seeks to allow up to 5% of state funds to be invested in "qualified digital assets", which includes cryptocurrencies that have had an average market capitalization exceeding 500 billion dollars in the last 12 months. The only cryptocurrency that surpasses this mark today is bitcoin (BTC).