Missouri House Bill 20, introduced by Ben Keathley in January, was referred to House Commerce Committee where it is awaiting a hearing public and a committee vote. The bill would establish a “Bitcoin Strategic Reserve Fund” For the State
The Treasurer would be authorized to hold and manage Bitcoin in accordance with defined legal guidelines.
It is important to note that the word “you” means “you”. proposal Followings is a failed 2025 Keathley has made a valiant effort to revive her bill, which was previously stymied in the committee. It never got a vote on the floor. The new version includes a revised committee structure and more defined custody guidelines.
Under HB 2080 the state treasurer will be allowed to accept Bitcoin as gifts, bequests or bequests. Missouri Residents and government entities. This bill is also applicable to residents and governmental entities. authorizes the treasurer The framework allows for the purchase and holding of bitcoins using funds from the state, but the main funding source is voluntary contributions.
Bitcoins acquired as part of the reserve are required to be kept in cold storage for at least five years after the day they enter state custody. The assets are not allowed to be transferred or sold during this period.
The treasurer can sell, convert, transfer or appropriate the cryptocurrency after the 5-year mark.
It defines bitcoin as an uncentralized digital currency that operates on a peer to peer network, without any centralized control. This legislation codifies “cold storage” As an offline way to secure private keys within a safe physical environment. Incorporating definitions in statutes is a way for lawmakers to set a legal framework that will govern risk management and custody.
In HB 2080, the Treasurer is required to create formal custody policies. It also authorizes the use a third-party, qualified and independent entity located in the United States, to aid with the administration and security of the Reserve. This bill requires public reporting every two years and overseeing procedures to ensure transparency in the holdings and activities of the fund.
With the approval of Missouri’s Department of Revenue and a separate provision, state agencies could accept cryptocurrency as payment for state taxes, fees, fines, or other obligations. The payer may have to pay for transaction costs.
The Commerce Committee will advance the bill to the House floor for debate and voting. The bill would then be approved in the Senate, where it would go to committee for consideration and final approval.
It would be forwarded to the Governor Mike Kehoe, who could then sign or veto it. Bill has proposed date for implementation of August 28, 2026.
Missouri eliminates state capital gains
Missouri House Bill 594 was passed in the last year. cleared Mike Kehoe signed the measure into law. It was signed into law by Mike Kehoe. has since been implemented, eliminating Missouri’s state capital gains tax by allowing residents to deduct 100% of federally reported capital gains from their state adjusted gross income — meaning Missourians owe no state tax when selling or spending bitcoin.
Missouri becomes effective Jan. 1, 2020 became The first state that has completely repealed state income tax on capital gains. The deduction of 100% is available for both long-term and short-term capital gains, including those derived from real estate, stocks and cryptocurrency. However, it doesn’t apply to retirement fund distributions.
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Source: bitcoinmagazine.com
