The Trend Continues: South Carolina Joins States Exploring Bitcoin Reserves
- South Carolina introduced the “Strategic Digital Assets Reserve Act of South Carolina.”
- State lawmaker Jordan Pace introduced the bill as Kentucky and Arizona embrace BTC.
- The bill proposes the South Carolina treasurer to create a Bitcoin reserve of up to 1 million BTC.
South Carolina has taken a significant step toward potentially allowing Bitcoin into its state financial strategy. State Representative Jordan Pace introduced the “Strategic Digital Assets Reserve Act” (House Bill 4256) on March 27.
The proposed legislation would permit the state treasurer to allocate up to 10% of certain state funds into cryptocurrencies, with a specific emphasis on Bitcoin. If enacted, South Carolina would join a growing number of US states exploring Bitcoin as a potential strategic reserve asset.
What Does South Carolina’s Bitcoin Reserve Bill Propose?
HB 4256 specifically enables the current South Carolina treasurer, Curtis Loftis, to establish and manage a state Bitcoin reserve. The text references a potential holding ceiling of up to 1 million BTC, language that mirrors ambitions discussed related to federal plans under the Trump administration.
The post The Trend Continues: South Carolina Joins States Exploring Bitcoin Reserves appeared first on Coin Edition.
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The Trend Continues: South Carolina Joins States Exploring Bitcoin Reserves
- South Carolina introduced the “Strategic Digital Assets Reserve Act of South Carolina.”
- State lawmaker Jordan Pace introduced the bill as Kentucky and Arizona embrace BTC.
- The bill proposes the South Carolina treasurer to create a Bitcoin reserve of up to 1 million BTC.
South Carolina has taken a significant step toward potentially allowing Bitcoin into its state financial strategy. State Representative Jordan Pace introduced the “Strategic Digital Assets Reserve Act” (House Bill 4256) on March 27.
The proposed legislation would permit the state treasurer to allocate up to 10% of certain state funds into cryptocurrencies, with a specific emphasis on Bitcoin. If enacted, South Carolina would join a growing number of US states exploring Bitcoin as a potential strategic reserve asset.
What Does South Carolina’s Bitcoin Reserve Bill Propose?
HB 4256 specifically enables the current South Carolina treasurer, Curtis Loftis, to establish and manage a state Bitcoin reserve. The text references a potential holding ceiling of up to 1 million BTC, language that mirrors ambitions discussed related to federal plans under the Trump administration.
The post The Trend Continues: South Carolina Joins States Exploring Bitcoin Reserves appeared first on Coin Edition.
Read More