Ohio House Introduces House Bill 18 for Strategic Crypto Asset Reserves

YM Lee

Summary

The Ohio House of Representatives introduced House Bill 18 for virtual asset strategic reserves.
The bill stipulates that the state treasury may invest up to 10% of certain public funds in virtual assets.
Investment-eligible virtual assets must be exchange-traded products with a market capitalization of at least $75 billion, and currently, the only asset meeting these criteria is Bitcoin (BTC).

The Ohio House of Representatives introduced 'House Bill 18' for strategic reserves of virtual assets (cryptocurrencies).

According to Decrypt on the 25th (local time), Steve Demetriou, a Republican member of the Ohio House of Representatives, stated, "I have introduced House Bill 18, which is currently pending in committee. The bill allows the state treasury to invest up to 10% of certain public funds in virtual assets."

The virtual assets eligible for investment under the bill must be exchange-traded products with an average market capitalization of at least $75 billion. Currently, Bitcoin (BTC), with a market capitalization nearing $2 trillion, is the only asset that qualifies for investment.

BTC