Utah Supports Bitcoin, But Still Avoids Public Investment

The state #Utah has taken a significant step in recognizing Bitcoin, as the state Senate passed Bill HB230. However, the provision allowing the state treasurer to invest in Bitcoin was removed, reflecting the administration's caution regarding the use of tax dollars to purchase digital assets.

📌 Key points of HB230:

✔ Protecting the custodial rights of Bitcoin for Utah citizens.

✔ Legalizing Bitcoin mining, operating nodes, and participating in staking.

❌ Not allowing the Utah government to use public funds to purchase $BTC .

🔎 Commentary:

This bill shows that U.S. states are becoming increasingly friendly towards Bitcoin, especially regarding ownership rights and mining activities. However, the transition of Bitcoin into public reserves remains a significant challenge, as lawmakers are concerned about the risks associated with this asset.

Will the U.S. accept Bitcoin as part of its national reserves in the future? Perhaps this will require more progress, both legally and in terms of trust from the government! #anhbacong