Kansas Bitcoin Reserve Bill Referred to Senate Financial Committee

A bill in the U.S. state of Kansas to manage Bitcoin (BTC) and digital assets as state-level reserves has advanced to the review stage of the Senate Financial Committee.

According to The Block on the 23rd (KST), Kansas Senate Bill 352 (SB352) was referred to the Senate Financial Institutions and Insurance Committee. The bill, introduced the previous day by Republican state Senator Craig Bowser, centers on establishing a Bitcoin reserve fund financed by proceeds generated from unclaimed digital assets.

The Kansas proposal differs from existing Bitcoin reserve bills in that it does not involve the state government directly purchasing Bitcoin, instead using only revenue derived from unclaimed assets.

The bill would create a “Bitcoin and Digital Asset Reserve Fund” under the state treasury and stipulates that digital assets for which no owner comes forward for a certain period may be held and staked through designated custodians. Airdrops and staking rewards generated from assets that become unclaimed would be fully credited to the reserve, and transferring Bitcoin to the general fund would be prohibited.

For other digital assets, 10% would be transferred to the general fund upon deposit. Any spending from the reserve would require a separate legislative approval process.