There are already 20 US states that want Bitcoin

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By TP

Until this Tuesday, February 4, at least 20 states in the United States have submitted bills to involve Bitcoin and digital assets in their internal affairs. In total, they are proposals presented in 19 states, in addition to those high at the federal level, that is, in the United States Congress. According to the monitoring of the investigation firm Bitcoin Laws, they are a total of 35 bills that have been presentedin which Bitcoin mention and digital assets are made. The states that have presented these projects are Alabama, Arizona, Illinois, Indiana, Kansas, Massachusetts, Montana, Mississipi, North Dakota, Nuevo Hampshire, New Jersey, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Dakota del Sur, Texas, Utah and Wyoming.

20 US states. They have projects focused on BTC and cryptocurrencies. Source: Bitcoin Laws. The 35 bills They are divided according to their different approaches and interests. We detail a differentiation by type of proposal and the states that promote them:

Bitcoin strategic reservations

Most of the proposals that have been presented at the state and even federal level, They have to do with the creation of a Bitcoin strategic reservein which states can protect themselves from inflation, fight against the devaluation of the US dollar and aim towards the digital future. In total, 13 states of the 20 mentioned have submitted a total of 14 law proposals for the creation of a Bitcoin strategic reserve. Arizona, Illinois, Massachusetts, Montana, North Dakota, Nuevo Hampshire, Ohio, Oklahoma, Pennsylvania, South Dakota, Texas, Utah and Wyoming stand out. As established in these projects, it is proposed that 10% of the state public funds, such as the fiduciary, general or land funds of the states; It is made available to investment in BTC.

To date, only three projects related to the creation of a Bitcoin strategic reserve have advanced beyond their approval in the Finance Committee of state legislatures, And they are expected to be voted now in plenary in the coming weeks. These projects belong to Arizona, North Dakota and Utah, as reported by cryptoics.

13 states have projects oriented to a strategic Bitcoin reserve. Source: Bitcoin Laws.

Allow investments in bitcoin and digital assets

Another line of bills in the states of the United States that have to do with Bitcoin and cryptocurrencies, are those focused on allowing state authorities, in this case the treasurer, comptroller or investment board, can allocate funds to invest In BTC and cryptoactivewithout implying the explicit creation of a Bitcoin reserve.

These states include the examples of Kansas, Indiana, North Dakota and South Dakota. In Kansas, the bill presented seeks to allow 10% of the Public Employee Retirement System of that State to be invested in BTC. It would be an investment of up to 2.5 billion dollars in the world's largest digital asset. Indiana, meanwhile, has a bill in current discussion that would allow the retirement funds for public employees and professors of the State to be enabled for Invest in contributing funds in the stock market (ETF) of the price of bitcoin in cash.

In North Dakota, meanwhile, a resolution that encourages the State Treasurer and the State Investment Board to invest state funds selected in digital assets and precious metals was approved at the legislative committee level. These assets include those with a market capitalization that exceeds USD 500,000 million. That is, only bitcoin (until now). In Dakota del Sur, a resolution of the State Representatives Chamber is being discussed in committee, that urges the State Investment Council to invest in BTC.

In most of these cases, the projects have been presented and are discussed at the Finance Committee level. Of being approved in that instance, They will become debated in plenary.

Other cases of projects linked to Bitcoin and cryptocurrencies that occurred before US legislatures are those of Arizona, Oklahoma, Indiana, Nuevo Hampshire and Alabama, Alabama, Alabama, where the objectives go beyond forming a strategic BTC reserve.

For example, in Arizona, a bill was presented to recognize cryptocurrencies as legal tender, such as the US dollar and other currencies. This, giving these assets The official exchange media treatment for debts, taxes and other public expenses within the state. That proposal was approved by the Arizona Senate Rules Committee and will now be discussed in plenary. A similar status is the one with another Arizona project, focused on authorizing the entity's retirement fund that investigates the investment in BTC.

Meanwhile, in Oklahoma, a bill was presented to authorize state employees, private companies and suppliers, to negotiate and receive compensation in Bitcoin. This proposal It is being discussed in the Technology and Telecommunications Committee, and then will go to the appropriation committee. In Indiana, a legislative proposal was presented to protect and regulate Bitcoin mining and digital asset transactions within the State. In general, the bill prevents local governments from restricting people or companies to use digital assets to buy goods and services, accept digital assets such as payment, use Bitcoin or operating wallets or operating nodes. In addition, classify digital mining as an allowed industrial usewhich guarantees that zoning laws cannot prohibit or restrict mining operations irrational. There is also the case of Mississippi, where a regulation was presented to prohibit the use and development of Central Bank digital currencies (CBDC) and protect the rights of people to use, self -opposite and make transactions with digital assets without additional taxes.

There are projects aimed at defending and protecting Bitcoin mining. Source: Archive. THE MISSIS PROJECT It also legalizes digital asset mining at domestic and industrial level And it establishes that mining, staking and “blockchain” transactions are exempt from the laws of money and values ​​transmitter licenses, with protections of responsibility for validators. In Nuevo Hampshire, a project that establishes a legal framework favorable to cryptocurrencies is also discussed, to use, self -systemal and perform transactions with digital assets No government interference or taxes.

In addition, it protects the mining of domestic and industrial cryptocurrencies, prohibits the forced dissemination of private keys and recognizes intelligent contracts as legally valid trusts. The bill also creates a court specialized in “blockchain” to handle disputes, and guarantees that miners, nodes and stakers operators Do not be classified as money transmitters.

In the case of Alabama, a bill was presented to protect cryptocurrencies and innovation in this sector, avoiding restrictive government regulationspromoting the adoption of digital assets and ensuring that mining and staking companies They can operate without restrictions or taxes. This project is being discussed in the State Banking and Insurance Committee.

«Blockchain»

On the other hand, among all the projects already presented and in full discussion, those that are oriented to the “blockchain” technology, Fundamental part of the entire cryptocurrency ecosystem.

This is the case of the project to create a Blockchain Study Committee in Alabama, which was approved and is in execution. It also highlights the Oregon case, where a proposal is currently discussed that prohibits state and local governments to restrict activities related to “blockchain” technology and digital assets. In general, this project avoids the imposition of taxes or rates based solely on the use of digital assets for transactions. And it also exempts the activities related to “blockchain”, such as the exchange of digital assets or the execution of nodes.

Bitcoin involved in American politics

The 35 bills presented in the legislatures of 20 states of the United States, reflect a growing tendency towards the integration of Bitcoin and cryptocurrencies in US state legislation. UU., Showing a remarkable interest in BTC's potentialin itself, not only as a value reserve, but as a strategic asset. The US map is being painted from the orange of Bitcoin, indicating a significant change in perception and regulation of this sector at the state level. Therefore, positive development of these projects in state legislatures will be crucial.