Summary
- The Massachusetts legislature said it will hold a hearing on a Bitcoin strategic reserve bill.
- The bill would allow the state treasury to use up to 10% of the stabilization fund for digital asset investments.
- However, analysts say the bill's chances of passing are low due to the Democratic majority in the legislature.
The Massachusetts legislature is set to hold a hearing on a bill for a Bitcoin (BTC) strategic reserve.
On the 29th (local time), crypto-focused outlet Cointelegraph reported that the Massachusetts House and Senate joint revenue committee will review the 'Bitcoin Strategic Reserve' bill introduced in February by Republican state Senator Peter Durant.
The bill would deposit Bitcoin and digital assets seized by the state government into the reserve and allow the state treasury to use up to 10% of the stabilization fund for digital asset investments.
However, because Democrats hold a majority in the Massachusetts legislature, analysts say the Republican-sponsored bill is unlikely to pass.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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