Three states, Arizona, Kentucky and Oklahoma, have launched new legislative efforts to support Bitcoin.
On past days, lawmakers from these states introduced or passed bills to protect crypto rights, encourage Bitcoin investments, and set up state-controlled reserves.
Arizona Bitcoin reserves bills
Arizona is moving forward with two Bitcoin-centric bills that cleared the House Rules Committee on March 24th. The Bitcoin Act reported that SB 1373 and SB 1025 bills head to full home for votes.
SB 1373 proposes the creation of a strategic digital asset sanctuary that includes codes seized during criminal investigations.
Arizona state treasurer manages the fund and can invest up to 10% of its value each year. The bill also allows these assets to be loaned out as long as the risk levels remain in control.
Meanwhile, the SB 1025 takes a more intensive approach. The Arizona Department of Treasury and the state retirement system aims to allow up to 10% of the available funds to be invested in Bitcoin.
The Bitcoin law noted that both bills are likely to pass given Republicans hold a majority in the legislative office.
But the platform said that the final approval of the bill would “depend on Democratic Gov. Katie Hobbs, who has a notorious reputation for refusing Republican legislation.”
Bitcoin law pointed out:
“Hobbs rejected 22% of all bills in 2024. It’s the highest rate in the country.”
Kentucky has established protection for Bitcoin users
At the same time, Kentucky took an important step by signing the law on House Bill 701.
On March 24th, Governor Andy Bessia approved a bill that gives residents strong legal protection when using or retaining digital assets.
Satoshi Act Fund reported that the law confirms its right to run independent Bitcoin, nodes and use encryption without fear of discrimination. It also prevents local governments from introducing legislation that unfairly restricts mining operations.
Additionally, the law states that mining and staking are not qualified as securities and are not subject to remittance licenses.
The bill passed the House and Senate with unanimous support, 91-0 and 37-0, respectively.
Oklahoma Bitcoin Investment Bitcoin
On March 24, Bitcoin law reported that Oklahoma lawmakers approved House Bill 1203 with 77-15 votes.
The bill allows state accounts to invest public funds in Bitcoin and Stubcoin at a market capitalization of at least $500 billion. Based on data from EncryptionOnly Bitcoin meets that threshold, with a market capitalization of nearly $1.7 trillion.
HB 1203 will be moved to the Oklahoma Senate for further consideration once approved.
Bitcoin law noted that the bill is likely to become law for Republican leaders both in the Senate and the Governor’s Office.
If passed, Oklahoma will join the growing list of US states taking formal steps to integrate Bitcoin into their fiscal strategy.
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