Bitcoin gains state-level traction in Arizona, Kentucky, and Oklahoma
Three US states—Arizona, Kentucky, and Oklahoma—have launched new legislative efforts to support Bitcoin.
During the past day, lawmakers in these states have introduced or passed bills to protect crypto rights, encourage Bitcoin investment, and set up state-managed reserves.
Arizona’s Bitcoin Reserves bills
Arizona is moving forward with two Bitcoin-focused bills that cleared the House Rules Committee on March 24. Bitcoin Laws reported that SB 1373 and SB 1025 bills will now head to the full House for a vote.
SB 1373 proposes the creation of a Strategic Digital Assets Reserve that would include crypto seized during criminal investigations.
Arizona’s state treasurer would manage the fund and could invest up to 10% of its value each year. The bill also allows lending these assets to generate returns as long as risk levels remain controlled.
On the other hand, the SB 1025 takes a more focused approach. It aims to allow the Arizona Treasury and state retirement system to invest up to 10% of available funds into Bitcoin.
Bitcoin Laws pointed out that the chances of both bills passing are high, considering Republicans hold the majority in the legislative chamber.
However, the platform noted that the bill’s final approval hinges on the Democratic Governor Katie Hobbs, who has “a notorious reputation for vetoing Republican legislation.”
Bitcoin Laws noted:
“Hobbs vetoed ~22% of all bills in 2024. The highest rate in the nation.”
Kentucky enacts protection for Bitcoin users
At the same time, Kentucky has taken a significant step by signing House Bill 701 into law.
On March 24, Governor Andy Beshear approved the bill that gives residents strong legal protections when using or holding digital assets.
Satoshi Act Fund reported that the law affirms the right to self-custody Bitcoin, run nodes, and use crypto without fear of discrimination. It also prevents local governments from introducing laws that unfairly restrict mining operations.
Further, the legislation states that mining and staking do not qualify as securities and are not subject to money transmitter licensing.
The bill passed the House and Senate with unanimous support—91-0 and 37-0, respectively.
Oklahoma’s Bitcoin investment bill
On March 24, Bitcoin Laws reported that Oklahoma lawmakers approved House Bill 1203 with a 77–15 vote.
The bill would allow the state treasurer to invest public funds in Bitcoin and stablecoins with a market capitalization of at least $500 billion. Based on data from CryptoSlate, only Bitcoin meets that threshold, with a market cap near $1.7 trillion.
HB 1203 will now move to the Oklahoma Senate for further consideration after its approval.
Bitcoin Laws pointed out that the bill has a strong chance of becoming law due to the Republican leadership in both the Senate and the governor’s office.
If passed, Oklahoma would join a growing list of US states taking formal steps to integrate Bitcoin into public finance strategies.
The post Bitcoin gains state-level traction in Arizona, Kentucky, and Oklahoma appeared first on CryptoSlate.
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Bitcoin gains state-level traction in Arizona, Kentucky, and Oklahoma
Three US states—Arizona, Kentucky, and Oklahoma—have launched new legislative efforts to support Bitcoin.
During the past day, lawmakers in these states have introduced or passed bills to protect crypto rights, encourage Bitcoin investment, and set up state-managed reserves.
Arizona’s Bitcoin Reserves bills
Arizona is moving forward with two Bitcoin-focused bills that cleared the House Rules Committee on March 24. Bitcoin Laws reported that SB 1373 and SB 1025 bills will now head to the full House for a vote.
SB 1373 proposes the creation of a Strategic Digital Assets Reserve that would include crypto seized during criminal investigations.
Arizona’s state treasurer would manage the fund and could invest up to 10% of its value each year. The bill also allows lending these assets to generate returns as long as risk levels remain controlled.
On the other hand, the SB 1025 takes a more focused approach. It aims to allow the Arizona Treasury and state retirement system to invest up to 10% of available funds into Bitcoin.
Bitcoin Laws pointed out that the chances of both bills passing are high, considering Republicans hold the majority in the legislative chamber.
However, the platform noted that the bill’s final approval hinges on the Democratic Governor Katie Hobbs, who has “a notorious reputation for vetoing Republican legislation.”
Bitcoin Laws noted:
“Hobbs vetoed ~22% of all bills in 2024. The highest rate in the nation.”
Kentucky enacts protection for Bitcoin users
At the same time, Kentucky has taken a significant step by signing House Bill 701 into law.
On March 24, Governor Andy Beshear approved the bill that gives residents strong legal protections when using or holding digital assets.
Satoshi Act Fund reported that the law affirms the right to self-custody Bitcoin, run nodes, and use crypto without fear of discrimination. It also prevents local governments from introducing laws that unfairly restrict mining operations.
Further, the legislation states that mining and staking do not qualify as securities and are not subject to money transmitter licensing.
The bill passed the House and Senate with unanimous support—91-0 and 37-0, respectively.
Oklahoma’s Bitcoin investment bill
On March 24, Bitcoin Laws reported that Oklahoma lawmakers approved House Bill 1203 with a 77–15 vote.
The bill would allow the state treasurer to invest public funds in Bitcoin and stablecoins with a market capitalization of at least $500 billion. Based on data from CryptoSlate, only Bitcoin meets that threshold, with a market cap near $1.7 trillion.
HB 1203 will now move to the Oklahoma Senate for further consideration after its approval.
Bitcoin Laws pointed out that the bill has a strong chance of becoming law due to the Republican leadership in both the Senate and the governor’s office.
If passed, Oklahoma would join a growing list of US states taking formal steps to integrate Bitcoin into public finance strategies.
The post Bitcoin gains state-level traction in Arizona, Kentucky, and Oklahoma appeared first on CryptoSlate.
Read More
Block Inc faces $40 million fine for lax Bitcoin transactions oversight