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Montana Rejects Bitcoin Reserve Bill as Other States Consider Similar Measures
The Montana House of Representatives has rejected a bill that would have allowed the state to invest public funds in cryptocurrencies and precious metals. The proposal, known as House Bill 429, failed to pass with a vote of 41-59.
The bill’s rejection serves as a stark contrast to other states considering similar measures. Arizona’s Senate Finance Committee has advanced legislation that would permit up to 10% of public funds to be invested in cryptocurrency, while Utah has made significant progress with its Blockchain and Digital Innovation Amendments bill. This proposed amendment aims to allocate up to 5% of public funds towards digital assets.
Texas is also exploring the possibility of incorporating Bitcoin into their national reserve strategy, with two separate bills being considered: one that would allow a 1% general revenue fund allocation to the cryptocurrency, and another focused on facilitating Bitcoin donations and payments.
