NEWSLETTER
In a significant development in the midst of evolving regulatory landscapes in the United States, Ohio has introduced a bill aimed at establishing a strategic bitcoins reserve.
Headed by the Steve Demetriou majority whip and with the support of six co -cross -chatter, the legislation seeks to improve the reserves of the State Treasury by allowing the allocation of funds in bitcoin.
Ohio Bill proposes Bitcoins Strategic Reserve
He <a target="_blank" href="https://x.com/steve4ohiohouse/status/1882873301326053412″ target=”_blank” rel=”noopener nofollow”>bill He proposes that Ohio can invest up to 10% of its general fund, Budget Stabilization Fund and Fiduciary Awards in bitcoin. This movement is considered a proactive response to the increase in inflation and the need for innovative financial strategies.
The market expert Dennis Porter, founder of the Satoshi Action Fund, expressed a strong support for the bill, highlighting its potential to safeguard the tax dollars of Ohio residents.
The key characteristics of the proposed legislation include solid custody solutions that require themselves or the use of a qualified custodian, ensuring state security investments.
The bill adopts a neutral position in technology by referring to “digital assets”, thus minimizing political friction and facilitating the fastest action to protect the purchasing power of state funds.
In particular, the proposal stipulates that only bitcoin qualifies for the reservation, which requires a market capitalization of $ 750 billion and one Average assessment During the previous 12 months, imposing strict qualifications. Demetriou emphasized the importance of this initiative, declaring on social networks:
Proud to have introduced a bill that will protect Ohio's tax dollars. By allowing an option to invest in a strategic bitcoin reserve, we can protect against inflation and maintain Ohio at the forefront of monetary and technological innovation.
Trump Executive Order
This legislative effort coincides with a broader impulse for the acceptance of cryptocurrencies at the federal level. Recently, President Donald Trump issued A comprehensive executive order that focuses on the protection and promotion of digital assets.
The order aims to ensure that banking services remain accessible to cryptocurrency companies, counteracting the claims that regulators have pressed banks to separate with these businesses.
In addition, the Executive Order prohibited the creation of digital currencies of the Central Bank (CBDC) in the USA., Which could compete with existing cryptocurrencies.
In a remarkable change, the United States Stock Exchange and Securities Commission (SEC) has also rescued the accounting orientation that had previously prevented companies from safeguarding cryptographic assets for third parties.
These regulatory adjustments are expected to promote greater adoption of digital assets by reducing operational complexities for companies involved in cryptographic space.
On the campaign path, Trump positioned himself as a “cryptographic president”, promising support for the Adoption of digital assetsA marked contrast to the regulatory approach adopted by the administration of former President Joe Biden, who has followed legal actions against the main exchanges such as Coinbase and Binance for alleged breach of US laws.
At the time of writing, bitcoin is around the $ 105,690 mark, which reflects slight decreases of 0.3% in the last 24 hours and 0.7% during the past week.
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