Utah has passed its Bitcoin reserve bill through the Senate Revenue and Taxation Committee, putting Bitcoin one step closer to becoming one of the state’s reserve assets. The HB230 “Blockchain and Digital Innovation Amendments” bill passed Utah’s revenue and taxation subcommittee in a 4-2-1 vote on Feb.

Utah’s Bitcoin reserve bill advances in the Senate, positioning the state to potentially become the first in the US to hold Bitcoin as a reserve asset by May 2025.

A bill that would create a Bitcoin strategic reserve in the United States members state of Utah just progressed to a Senate committee.

Utah’s Bitcoin strategic reserve bill, “H.B. 230” is now one step closer to getting approved. After passing the House last month in an 8 to 1 vote, it moved to the Senate Revenue and Taxation Committee on Tuesday.

Montana's rejection of a Bitcoin reserve bill highlights the diverse approaches US states are taking toward cryptocurrency investment legislation, with some advancing similar proposals while others exercise caution.

Montana’s Bitcoin reserve bill failed approval from the House, with 41 – 59 votes, “largely due to fiscal conservative opposition.”

Montana’s House of Representatives have voted down House Bill No. 429, a proposal that aimed to establish Bitcoin as a state reserve asset.

Texas may soon allow state money to be invested in cryptocurrency. State Sen. Charles Schwertner, R-Georgetown, filed SB 21, the Texas Strategic Bitcoin Reserve and Investment Act, which would create a new reserve to invest in digital currency.