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Utah Blockchain Bill Passes Without Bitcoin Reserve Provision
A blockchain bill has been passed by the Utah state Senate without a key provision to create a state Bitcoin reserve, much to the dismay of crypto enthusiasts. The bill, HB230, “Blockchain and Digital Innovation Amendments,” aims to protect citizens’ rights to mine Bitcoin, run nodes, and stake cryptocurrency.
The legislation also bars state and local governments from restricting the acceptance or custody of digital assets, as well as limits local governments’ ability to regulate crypto mining businesses, preventing unfair zoning and noise rules targeting digital asset miners operating in industrial zones.
Despite the lack of a Bitcoin reserve provision, the bill still provides crucial protections for various blockchain activities. The decision to remove this clause came after concerns were raised by some lawmakers about the potential risks associated with investing in cryptocurrencies.
Meanwhile, other states are pushing forward with their own Bitcoin reserve bills. Texas and Arizona have made significant progress in approving such bills, while Oklahoma has also introduced a similar proposal.
Source: https://blockonomi.com/utah-blockchain-bill-passes-without-bitcoin-reserve-provision/
