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 was introduced in the Massachusetts Senate by Republican legislators in February. This is part of an effort from Republican politicians in several US States to promote cryptocurrency (cryptocurrencies) 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. All the representatives of this state in the US House are Democrats.
Durant’s proposed legislation would permit “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.
Four US states including Massachusetts are called Commonwealths by their constitutions. However, the legal relationship between the United States and these states is identical. The terms are interchangeable.
Cointelegraph contacted the Massachusetts Senator’s Office for comment, but at the time the article was published had not yet received a reply.
Related: A Bitcoin strategic reserve may be bad for BTC and USD: Crypto exec
Only a handful of US states, such as New Hampshire and Texas have adopted the new standard. passed legislation allowing them Holding Bitcoin and other cryptocurrency as part a plan for strategic reserves.
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 members of Congress are attempting, through the BITCOIN Act, to codify and legislate this order.
The proposals for crypto reserve in the other US States are still pending
Massachusetts has joined the handful of state governments currently debating whether or not to adopt federal legislation allowing their Treasury to invest in Bitcoin and cryptocurrency.
Montana, North Dakota Pennsylvania South Dakota Wyoming and Wyoming have all refused to support or advance bills similar in the year 2025. However, proposed legislation in Michigan Ohio may still sign the law.
Michael Saylor Strategy is one of the companies that has exposure to cryptocurrency. have been investing in Bitcoin For years, digital assets have been used as an inflation hedge. It was reported that after Trump signed his executive order in 2025, many other countries followed suit.
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Source: cointelegraph.com
