"This year's version arrives with revised committee placement and a more structured custody framework. Under HB 2080, the state treasurer would be permitted to accept gifts, grants, donations, bequests, or devises of bitcoin from Missouri residents and governmental entities. The bill also authorizes the treasurer to purchase and hold bitcoin using state funds, though the framework emphasizes voluntary contributions as the primary funding source."
"The legislation defines bitcoin as a decentralized digital asset operating on a peer-to-peer network without centralized control. Bitcoin acquired for the reserve must be placed in cold storage and held for a minimum of five years from the date it enters state custody. During that period, the assets cannot be sold, transferred, or converted. After the five-year threshold, the treasurer may sell, transfer, appropriate, or convert the holdings into another cryptocurrency authorized under the bill."
HB 2080, introduced in January, awaits a public hearing and committee vote in the House Commerce Committee. The bill would create a Bitcoin Strategic Reserve Fund and authorize the state treasurer to acquire, hold, and manage bitcoin under statutory guidelines. The treasurer may accept gifts or purchase bitcoin, with voluntary contributions emphasized as the primary funding source. Bitcoin must be kept in cold storage and held at least five years before any sale, transfer, or conversion; after five years the treasurer may dispose of or convert holdings, including into another authorized cryptocurrency. The law defines bitcoin and cold storage, requires formal custody policies, permits a qualified U.S.-based third-party custodian, and mandates biennial public reporting and oversight.
Read at Bitcoin Magazine
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