A strategic preparedness initiative has emerged in the US state of Kansas that directly targets Bitcoin. A new bill filed in the state Senate aims to have Kansas formally classify digital assets under its reserve framework.
The Bitcoin and Digital Asset Reserve Fund bill introduced in the Senate proposes to collect unclaimed digital assets and the income derived from them into a special fund under the National Treasury. According to the proposal, the fund would primarily consist of income such as airdrops, staking rewards, and interest from digital assets, including Bitcoin. The fund would be administered by the Kansas State Treasurer.
Another notable element of the bill concerns rules regarding the use of digital asset proceeds. According to these rules, expenditures from the Bitcoin and Digital Asset Reserve Fund can only be made within the budget approved by Congress. Additionally, 10% of the proceeds from each digital asset investment must be transferred to the state’s general fund, but Bitcoin cannot be deposited directly into the state’s general fund.
The bill also defines the concept of “airdrop” in detail. According to this definition, an airdrop is considered a reward of digital assets distributed under predetermined, non-discriminatory conditions to users, miners, validators, or existing token holders who contribute to the functioning of a blockchain network. Transactions involving the exchange of cash or assets in excess of face value are excluded from airdrops.
*This is not investment advice.
