The government’s heat for adoption of Bitcoin (BTC) has gained power in the US to establish a national reserve for digital assets after President Donald Trump’s executive order. However, Utah unexpectedly retired at the last minute due to legislative technology, and Texas and Arizona became major contestants in the first place in the race where the nation was unleashed by the strategic reserves of pioneering digital currency.
Utah was initially thought to be at the forefront of its proposal as the HB230 Act, known as “Adjusting Blockchain and Digital Innovation.” I suffered from a serious retreat. Bitcoin laws were published early today on March 8th, as detailed in the X thread.
This account, which monitors the bill to make Bitcoin reservations, is the Senate Utah has approved the bill, But he did so without a section considering creating a strategic reserve based on digital currency, as was initially considered.
In any case, the law, which comes into effect on May 7, establishes a progressive regulatory framework that encourages the adoption of Bitcoin and its technology in the public and private sectors.
Approval of the law eliminates regulatory barriers for businesses and citizens of interest; Protect the industry Bitcoin mining, We recognize its economic and technical importance. However, the lack of strategic preparation could limit Utah’s symbolic and financial impact on the government’s recruitment movement for digital currency at the government level.
For Utah to have a strategic Bitcoin reserve, this possibility must be clearly pondered and presented a new bill to be reviewed and approved by the Senate again, surpassing the technology that eliminates this provision in the current HB230 Act.
Now, Utah has left the race for the first state with a Bitcoin reserve, Texas and Arizona appear as main contestants. Texas is moving forward with the SB-21 bill approved by the state senators on March 6, as reported by Cryptonoticias.
Arizona is advancing the Strategic Bitcoin Reserve Act (SB 1025) and the Strategic Digital Asset Reserve Act (SB 1373), which are supported by Republican lawmakers and supported at a highly review stage.
Similarly, there are laws in New Hampshire and North Carolina. This is in the overall discussion phase, so we are moving forward with solid steps. This step is key to defining your future. The approval in this example brings them closer to their goals, but they still have to overcome the Senate analysis.
In short, all of this is going on, Bitcoin in finance promises to be the decisive chapter of 2025. Now it’s only a matter of time before we know whether digital currency will consolidate its position in the state treasures.
(tagstotranslate)bitcoin(btc)
