Kansas Republican State Senator, Craig Bowser, has presented a bill destined to allocate up to 10% of the retirement funds of public employees to products of funds quoted in the stock market (ETF) of bitcoin (btc).
Kansas senator proposes bitcoin exposure for retirement funds
The bill, entitled Senatorial Law 34, seeks to authorize the Kansas Public Employee Retirement System (Kpers) to invest up to 10% of the retirement funds of public employees in ETF of bitcoin. If approved, the legislation would establish a KPERS Board of Directors in charge of supervising btc ETF investments.
In particular, the Specific Bill that the KPERS Board of Directors can assign funds to bitcoin ETF products issued exclusively by Kansas -based investment companies. It also stipulates that if the value of btc ETFs exceeds 10% of the retirement fund portfolio, the Board is not required to sell unless it is in the best interest of the beneficiaries of the Fund.
In addition, the legislation requires that the Kpers board of directors carry out an annual review of the investment program. The results of this review must then be presented to the governor for supervision and evaluation.
Although the bill represents a significant step towards the generalized acceptance of bitcoin as a reserve of value, it must go through a rigorous legislative process before becoming law. Senate Bill 34 It was sent to the Committee of Financial and Insurance Institutions on January 17 and must exceed four rounds of approval before being sent to the Kansas House of Representatives.
In the House of Representatives, the bill would go through a similar legislative process before reaching the governor's desk for final approval or veto. If it is vetoed, the legislation would return to the state legislature, where it would need a two -thirds majority of the votes in both cameras to cancel the veto and become law.
Senator Bowser's proposal highlights a significant change in Kansas approach to cryptocurrencies. In 2023, the State Representatives Chamber presented a bill that restricted the political donations of cryptocurrencies to 100 dollars and ordered the immediate conversion of these donations to US dollars, prohibiting the possession or spending of cryptocurrencies.
The btc fever seizes the US.
Since Donald Trump's victory in the US presidential elections in November, several states have begun to explore bitcoin as part of their economic strategies. Earlier this month, the North Dakota Legislative Assembly proposed Invest in btc to combat inflation.
Similarly, Oklahoma Dusty Deverse senator recently inserted The bitcoin Freedom Law, which aims to provide residents with the option of receiving salaries in btc. As reported, even traditionally democrats such as Massachusetts are considering establishing a strategic bitcoin reserve.
Despite this growing enthusiasm for bitcoin, the US Federal Reserve remains skeptical of the idea. dismissal He described him as “the dumblingiest idea that has ever existed.” At the time of this edition, btc quotes $ 105,486, a 0.7% increase in the last 24 hours.
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