The 103rd Missouri General Assembly has introduced House Bill 2080, proposed by Representative Keathley, to establish a "Bitcoin Strategic Reserve Fund" under Chapter 30 of the Revised Statutes of Missouri (RSMo). The fund, managed by the state treasurer, would be financed through Bitcoin donations or bequests from residents. The Bitcoin must be held for a minimum of five years and can be transferred, sold, or exchanged for other cryptocurrencies.
The bill mandates secure storage of Bitcoin, prohibiting involvement with foreign or state entities or illegal activities. It allows collaboration with domestic third-party crypto institutions and requires biennial reports on holdings and security. The proposal also includes a streamlined donation process and an honor program. Additionally, the state treasurer may invest or hold cryptocurrencies using state funds, and government agencies must accept crypto payments approved by the tax authority. The bill is pending approval, with details subject to final legislation.
Missouri Proposes Bitcoin Strategic Reserve Fund Legislation
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