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In Montana, the House of Representatives rejects the draft law of collecting public funds to BitCoin in the House of Representatives. With this decision, the state joined states like Kozi Dakota, Woming and Pennsylvania, who did not accept the proposals to include Bitcoin in the state reserves.
Earlier this month, the “House Bill 429”, offered by Representative Kurts Shamar, aims to create a special account that can allocate up to 50 million funds to crypto currencies, stable coins and precious metals. The move was taken to diversify the assets of the state and provide more profits than the investment of traditional bonds, Shamar said.
In the vote on Friday, the bill was rejected by 59 votes against 41. Although BitCoin, the only digital asset that meets the standard in the bill, has faced strong opposition from the MPs.
In some states, the tendency to support Bitcoin reserves benefits rapidly, while those who follow the issue are faster than the federal government. According to Bitcoin Reserve Track Track Data, Arizona, Illinois, Kentucky, Maryland, Oklahoma, New Hampshire and Texas, including Butt Coin reserves, are in the process of reviewing Bitcoin reserves.
The last situation is as follows:
Utah: The “blockchain and digital innovation changes” bill contains a code that allows the state treasury to distribute 5 % of the funds into digital assets. The bill has not yet ended.
Arizona: The Senate Finance Committee approved a draft law that allowed 10 % of public funds (including pension system) to be deposited in crypto currencies. The draft will be sent to the Senate Rules Committee for additional examination and then switch to the House of Representatives.
Texas: The state is discussing two different laws of the rules. The first concept is that 1 % of the general income fund is allocated for bitcoin. The other includes bitcoin donations and crypto payment changes.
Some states in the United States work to integrate crypto assets into public finances, while countries like Switzerland, Brazil, Japan and Russia review Bitcoin in their national reserve strategies.
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