Missouri Representative Ben Keathley has launched House Bill 1217, a legislative proposal that may set a philosophize-managed Bitcoin Strategic Reserve Fund. The bill, equipped within the 103rd Overall Meeting, outlines the philosophize’s authority to make investments in, defend, and recount cryptocurrency for various governmental transactions.
Interior Missouri’s Bitcoin Bill
HB 1217 mandates the advent of a Bitcoin reserve fund, with the Missouri philosophize treasurer acting as its custodian. Based on the bill, all Bitcoin composed under the reserve program needs to be held for no longer decrease than 5 years sooner than it’s going to even be transferred, sold, or converted to but another cryptocurrency. Unlike Missouri Senate Bill 614, which proposes a 10% cap on philosophize crypto investments, HB 1217 would now not include a yelp investment restrict.
The bill also requires all Missouri governmental entities to bag cryptocurrency as a assemble of rate. The philosophize’s Department of Earnings will resolve which cryptocurrencies qualify, and authorities companies may perchance impose provider payments on crypto transactions. This provision expands the usage of digital sources for tax payments, fines, payments, and other authorities-related costs.
🚨 NEW: MISSOURI BITCOIN RESERVE BILL
House Bill 1217 – launched on the novel time.
This is MO’s 2nd SBR bill. First is within the Senate (SB614).
Key differences on this bill:
🟠 No yelp cap on investment. (SB614: 10% cap)
🟠 Govt have to bag crypto payments
🟠 5 YR HODL pic.twitter.com/I0beysSPs7— Julian Fahrer (@Julian__Fahrer) February 6, 2025
Additionally, the rules grants the philosophize treasurer the authority to make investments in, aquire, and defend cryptocurrency the usage of philosophize funds. The bill aligns with rising efforts among U.S. states to mix Bitcoin into public monetary systems. Missouri’s Senate Bill 614, launched earlier, shares identical goals but differs in key provisions, in conjunction with an yelp cap on Bitcoin holdings.
House Bill 1217 marks Missouri’s second try and set a philosophize Bitcoin reserve. The proposed rules displays ongoing discussions in relation to crypto adoption on the philosophize degree. The bill’s introduction follows broader traits of philosophize governments exploring Bitcoin as a treasury asset and rate formulation.
