Alabama and Minnesota Join Growing Movement to Establish State Bitcoin Reserves
Alabama and Minnesota Lawmakers Propose Bitcoin Reserve Bills
Lawmakers in Minnesota and Alabama have introduced bills that would allow their states to hold Bitcoin (BTC) as part of official reserves, the latest additions to a growing list of U.S. states pursuing similar legislation.
The Minnesota Bitcoin Act: Paving the Way for State Crypto Adoption
On April 1, Minnesota State Representative Bernie Perryman introduced HF 2946, the counterpart to a Senate bill proposed by Senator Jeremy Miller on March 17. The Minnesota Bitcoin Act would:
- Permit the state investment board to invest in Bitcoin and other cryptocurrencies.
- Allow state employees to hold crypto within retirement accounts.
- Exempt cryptocurrency gains from the state income tax.
- Permit residents to use Bitcoin for paying state taxes and fees.
Alabama’s Omnibus Crypto Legislation with Bitcoin Requirement
Senate Bill 283 and House Bill 482 were introduced by Alabama Senator Will Barfoot and Representative Mike Shaw on April 1. Although the bills don’t mention Bitcoin, they do call for investments in cryptocurrencies with at least a $750 billion market capitalization—a prerequisite that only Bitcoin currently meets.
A Nationwide Trend: 26 States Consider Bitcoin Reserves
As of now, 26 U.S. states have introduced bills to create state-level Bitcoin reserves. The most progress has been in Arizona, which is reportedly closest to enacting such a law.
That has not been the case for every state, however. Pennsylvania was an early mover way back in November 2024 but ended up dropping the initiative. Similar bills in Montana, North Dakota, South Dakota, and Wyoming have also been shelved.
Partisan Roadblocks and Legislative Tactics
A report on March 3 by Barron’s stated that several so-called “red states” have been delayed, in part due to partisan disagreements over crypto policy.
Introducing identical companion bills in both houses, as in Minnesota and Alabama, is a legislative strategy intended to expedite the approval process.
With nearly half of U.S. states exploring Bitcoin reserves, the trend reflects increasing interest in decentralized finance at the state government level.
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Alabama and Minnesota Join Growing Movement to Establish State Bitcoin Reserves
Alabama and Minnesota Lawmakers Propose Bitcoin Reserve Bills
Lawmakers in Minnesota and Alabama have introduced bills that would allow their states to hold Bitcoin (BTC) as part of official reserves, the latest additions to a growing list of U.S. states pursuing similar legislation.
The Minnesota Bitcoin Act: Paving the Way for State Crypto Adoption
On April 1, Minnesota State Representative Bernie Perryman introduced HF 2946, the counterpart to a Senate bill proposed by Senator Jeremy Miller on March 17. The Minnesota Bitcoin Act would:
- Permit the state investment board to invest in Bitcoin and other cryptocurrencies.
- Allow state employees to hold crypto within retirement accounts.
- Exempt cryptocurrency gains from the state income tax.
- Permit residents to use Bitcoin for paying state taxes and fees.
Alabama’s Omnibus Crypto Legislation with Bitcoin Requirement
Senate Bill 283 and House Bill 482 were introduced by Alabama Senator Will Barfoot and Representative Mike Shaw on April 1. Although the bills don’t mention Bitcoin, they do call for investments in cryptocurrencies with at least a $750 billion market capitalization—a prerequisite that only Bitcoin currently meets.
A Nationwide Trend: 26 States Consider Bitcoin Reserves
As of now, 26 U.S. states have introduced bills to create state-level Bitcoin reserves. The most progress has been in Arizona, which is reportedly closest to enacting such a law.
That has not been the case for every state, however. Pennsylvania was an early mover way back in November 2024 but ended up dropping the initiative. Similar bills in Montana, North Dakota, South Dakota, and Wyoming have also been shelved.
Partisan Roadblocks and Legislative Tactics
A report on March 3 by Barron’s stated that several so-called “red states” have been delayed, in part due to partisan disagreements over crypto policy.
Introducing identical companion bills in both houses, as in Minnesota and Alabama, is a legislative strategy intended to expedite the approval process.
With nearly half of U.S. states exploring Bitcoin reserves, the trend reflects increasing interest in decentralized finance at the state government level.
Read More
Senate Banking Committee Advances Paul Atkins to Lead SEC 13-11