Massachusetts’ state legislators will hold a committee hearing to discuss a Bitcoin-based strategic reserve bill, first proposed in February.
It’s a Saturday update Bill “relative to a Bitcoin strategic reserve” Massachusetts Joint Revenue Committee, led by Republican Senator Peter Durant of the state will host an hearing on this legislation.
Durant’s bill in Massachusetts Senate was a part of the push by Republican legislators across many US states to support cryptocurrency and Bitcoin.BTC) reserves.
The chances of a Republican bill being passed in Massachusetts are unclear. Democrats have supermajority control of the House of Representatives, Senate and Governorship in Massachusetts. The state is represented by Democrats in both the US House of Representatives and Senate.
Durant’s proposal would make it possible to “any Bitcoin or other digital asset seized by the commonwealth” To be placed into a Reserve, with the State Treasury using up to 10 percent of the Commonwealth Stabilization Fund for crypto investments.
Although four US states — including Massachusetts — are officially called “commonwealths” in their constitutions; their legal relationship with the Unites States is the same for all of them, and they use the term interchangeably.
Cointelegraph had reached out to Massachusetts’ senator for a statement, but as of the publication date it hadn’t received one.
Related: A Bitcoin strategic reserve may be bad for BTC and USD: Crypto exec
In September only New Hampshire, Texas and a couple of other US state governments had adopted blockchain technology. passed legislation allowing them To hold Bitcoins and other crypto currencies as part of your strategic reserve plan.
Donald Trump is the US President at federal level signed an executive order The government is planning to create a BTC stockpile in March using assets that have been seized. Republican legislators are trying to codify the order through Congress by using the BITCOIN Act.
The proposals for crypto reserve in the other US States are still pending
Massachusetts has joined the handful of state governments considering whether or not to adopt federal legislation allowing their Treasury to invest in Bitcoin and cryptocurrency.
Montana, North Dakota Pennsylvania, South Dakota and Wyoming all rejected similar bills in 2025. However, proposed legislation in Michigan Ohio’s law could be passed.
Michael Saylor Strategy and other companies with a crypto exposure have been investing in Bitcoin Years ago, many people used digital assets to hedge themselves against inflation. Many others may have followed in their footsteps after Trump’s executive order.
Magazine: How do the world’s major religions view Bitcoin and cryptocurrency?
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
