Summary
- A Kansas state senator said he has introduced legislation to create a state-level strategic reserve of Bitcoin (BTC) and virtual assets (cryptocurrencies).
- Under the bill, the state treasurer would manage the strategic reserve, and a portion of revenue from airdrops, staking rewards and interest could be used for the state government budget.
- The bill’s key point is to stockpile Bitcoin by holding it long term without selling it, amid a growing push across U.S. states to incorporate Bitcoin as a strategic asset.
A Kansas state senator has introduced a bill to establish a strategic reserve of Bitcoin (BTC) and virtual assets (cryptocurrencies).
According to Watcher.Guru, a U.S. crypto-focused media outlet, on the 22nd (local time) Kansas state senator Bowser submitted legislation to build a state-level strategic reserve for Bitcoin and virtual assets.
Under the bill, the state treasurer would oversee management of the strategic reserve, and a portion of proceeds generated from airdrops, staking rewards, interest and the like could be used for the state government budget. A key point is that Bitcoin would be stockpiled through long-term holding without being sold.
The bill comes as moves to incorporate Bitcoin as a strategic asset are spreading across U.S. states, drawing attention to whether the scope of virtual-asset use at the state-government level will expand.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
