Missouri lawmakers have advanced a revived Bitcoin strategic reserve proposal, referring House Bill 2080 to the House Commerce Committee for review on 19 February.
The bill, introduced in January by Representative Ben Keathley, would authorise the state treasurer to “invest, purchase, and hold cryptocurrency using state funds,” according to the legislation’s summary.
Under the proposal, the treasurer could accept gifts, grants and donations from Missouri residents or government entities to fund the reserve and hold bitcoin for up to five years before transferring, selling or converting it.
Transactions involving foreign countries or entities outside Missouri would be prohibited, while the bill also allows government agencies to accept approved cryptocurrencies for taxes, fees and fines.
House Bill 2080 will undergo a public hearing, committee vote and potential amendments before returning to the House floor, and if approved would proceed to the Senate and ultimately to Governor Mike Kehoe for signature or veto.
The measure follows a similar effort last year, House Bill 1217, which was introduced by Keathley in February but failed to advance beyond the committee stage after a public hearing.
The proposed legislation carries an effective date of 28 August, though a date for the public hearing has not yet been scheduled as the bill moves through the legislative process.
At the time of reporting, Bitcoin price was $64,963.73.