The House Business and Labor Committee in Montana has carried forward a bill that wants to establish a reserve allowing to invest in bitcoins, precious metals and stabeloin.
Representative presented by Kartis Sharmar, House Bill 429 landed in the House for the first time on 7 February and now cleaned its first major obstacle. 12-8 committee vote On 19 February. Despite integrated protests from Democrats, Bill received enough support to move beyond Republican.
Now, the bill goes to the full Montana House for one vote. If it passes by, it will move to the state Senate for further debate and approval. From there, it will require the Governor’s signature to enact a law.
If passed, Montana will establish a state special revenue account dedicated to investing in digital assets, precious metals, and stabblecin as part of a comprehensive reserve strategy.
The bill authorizes the state’s treasurer to transfer the general fund to $ 50 million from the general fund to this account by July 15, 2025. These funds will be managed by the Montana Board of Investments and allocated assets considered suitable under the norms of the bill.
The bill defines digital assets with economic or ownership rights as virtual currencies, cryptocurrency, stabechoin and other blockchain-based assets. However, to qualify for investment, the market capitalization of a digital asset must exceed $ 750 billion, which is an average in the previous calendar year – a requirement that currently meets only bitcoins only.
An amendment to the bill removed a prior requirement that the property should be conducted by a qualified guardian or through an exchange-traded funds. This change is widespread how the state can manage its investments, allowing more direct holding of property.
Montana joined a growing list of American states, discovering bitcoin reserves with Illinois, New Mexico, North Dakota, Ohio, Pennsylvania, South Dakota and Texas, others also introduced similar bills.
So far, Utah remains the only state where a Bitcoin Reserve Bill has approved the House. According to Dennis Porter, CEO of Satoshi Act Fund, Utah may become the first American state to establish a bitcoin reserve due to its small legislative calendar.
In contrast, a bitcoin reserve will be established at the national level, which appears to be disappearing. A polymercate pole with more than $ 7 million in the property placed the possibility of Donald Trump’s possibility of creating a strategic bitcoin reserve within his first 100 days, only 10%, which was significantly below 40% in January.
