š±šØšØUS State Says Yes to Crypto, No to Bitcoin Reservesš¤Æ
The Utah Senate, which aimed to block the bill that aims to integrate crypto assets into legal framework, but the #Bitcoin reserve section included in the bill was removed from the final text.
The #Utah Senate has accepted the āBlockchain and Digital Innovation Modificationsā design, which aims to legally frame crypto assets and blockchain.
The bill, known as HB230, was approved by a vote in the Senate on Friday. The most striking point about the bill is that the section āto use up to 5 percent of state assets to create Bitcoin reservesā was removed. Although Utahās initiative did not achieve the desired change with the issuance of the crypto reserve document, the completion of the billās acceptance was generally welcomed.
The final features of the HB230 bill allow Utah residents to legally perform transactions such as Bitcoin mining, storing crypto assets, and staking within their borders.
More than 30 states have proposed laws regarding cryptocurrency reserves. Montana, North Dakota, Wyoming, South Dakota and Pennsylvania are among the states whose proposals for such reserves have been roundly rejected.
Finally, Arizona and Texas have been the ones whose release bills are being approved.
