Massachusetts State Senator Peter Durant is following the trend of a rising number of states to set up a Bitcoin Reserve. In fact, Worcester County’s native has joined Texas, Pennsylvania and Oklahoma As states consider similar bills.
This move comes ahead of what many expect to be the Strategic Bitcoin Reserve Bill that will likely pass by Donald Trump, the new US president-elect. Trump has been discussing the possible legislation for some time. Many people expect this move to form part of the president’s agenda. wide-ranging plan to revamp How the government views the assets class.
JUST IN: 🇺🇸 Massachusetts Senator Peter Durant introduces bill to create a Strategic Bitcoin Reserve.
— Watcher.Guru (@WatcherGuru) January 17, 2025
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Massachusetts has become the latest State to request the establishment of a Strategic Bitcoin Reserve
The cryptocurrency market in the United States is about to undergo a massive transformation. The cryptocurrency industry in the United States is about to undergo a massive change. Donald Trump In just three short days, he will take the oath of office. His digital asset policy is under intense scrutiny. In fact, the White House will welcome the first ever crypto-friendly President.
He is also expected to deliver on his promise early in his tenure. In preparation for the arrival of President Trump, many US states have passed crypto-friendly legislation. Massachusetts has joined the growing list of states that have introduced legislation for a strategic crypto-based organization. Bitcoin reserve.
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This idea could allow for “some of the Bay State’s $9 billion rainy day fund” According to the Commonwealth Beacon. The bill also introduces a cap of 10% on the amount that the state’s Treasury can invest in this asset class.
“It’s not like we’re saying divest everything and put it into Bitcoin,” Durant said Friday. “But we do believe it does make sense as a portion of the Commonwealth’s portfolio.” Conversley is a California State Assembly Member Phillip Chen, unveiled a similar development. A nonprofit was appointed to draft in-kind legislation for the West Coast. It appears that the trend will not slow down anytime soon.
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Source: watcher.guru
