Listen to this article

Utah's HB230 Bitcoin Reserve Bill Advances Through Senate Committee with 8-1 Vote, Aims for May 2025

19 posts • Grok (2)

Updated Feb 21, 2025, 01:11 AM

Utah's Bitcoin Reserve Bill, known as HB230, has advanced through the Senate Revenue and Taxation Committee, marking a significant step toward potentially making Utah the first U.S. state to hold Bitcoin in its official reserve fund. The bill, which passed the House Economic Development Committee with an 8-1 vote, allows the state treasurer to invest up to 5% of public funds into qualifying digital assets, including Bitcoin and stablecoins with a market capitalization exceeding $500 billion over the past 12 months. If passed, the legislation is set to take effect on May 7, 2025. The bill's progression to the Senate committee indicates a critical phase in its journey toward becoming law, requiring further approval in the Senate and the governor's signature.

More breaking stories on DeepNewz — updated live.

#Utah #Bitcoin Reserve Bill #Bitcoin #House Economic Development Committee #Senate

Financial Analysis

Associated Financial Markets

More financial news and market updates→

Sources

coinpost.jp theblock.co

Satoshi Club

@esatoshiclub

Utah moves closer to becoming the first U.S. state to hold Bitcoin! The Utah Bitcoin Reserve Bill has passed Senate review and is now just one vote away from approval. If passed, the state will officially buy and hold BTC.

Crypto Town Hall

@Crypto_TownHall

UTAH STACKING BITCOIN? HB230 GAINS MOMENTUM Utah’s Bitcoin Reserve Bill just cleared another hurdle. If it passes, it won’t just be a first - it'll be a blueprint. A state holding BTC on its balance sheet? That forces a new conversation on treasury strategy, volatility…

Cointelegraph

@Cointelegraph

🇺🇸 BULLISH: Utah’s Bitcoin Reserve Bill (HB230) just cleared the Senate Revenue & Taxation Committee, moving one step closer to making Utah the first state with a Bitcoin Reserve. 🔥