Utah Senate Passes Bitcoin Bill Without Reserve Clause – What It Means for Crypto
The Utah Senate has approved the HB230 “Blockchain and Digital Innovation Amendments” bill. However, lawmakers removed an important part—a Bitcoin reserve clause. This clause would have made Utah the first U.S. state to hold Bitcoin as a reserve asset.
Key Points of the Bill:
✅ Passed the Senate with a 19-7-3 vote on March 7
✅ Now waiting for Governor Spencer Cox to sign it
✅ The original plan allowed Utah’s treasurer to invest up to 5% of state funds in digital assets worth over $500 billion (Bitcoin was the only one)
✅ The reserve clause was removed due to concerns about early adoption
Bitcoin Adoption in the U.S.
While Utah removed its Bitcoin reserve plan, Arizona and Texas are moving forward with similar bills. Out of 31 Bitcoin reserve bills introduced in different states, 25 are still active and awaiting final votes.
On March 7, President Donald Trump signed an order to create a federal Bitcoin reserve, funded with Bitcoin seized from crimes.
What’s Next?
As more states and even the U.S. government consider Bitcoin reserves, its role in finance is growing. Will more states adopt Bitcoin, or will Utah’s decision slow the trend?
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