- Florida promotes Senate Bill 550 to allocate 10% of public funds to Bitcoin.
- North Carolina leads US states in the adoption of strategic Bitcoin reserve legislation, with 11 accounts introduced.
As discussions about a strategic bitcoin [BTC] Reserve wins grip in the US, various states are already investigating ways to integrate Bitcoin into their financial systems.
Florida’s Bitcoin Reserve Push
Florida stands up as a leader, in which legislators are making progress Senate account 550Focused on including Bitcoin in the public investment strategy of the state.
Introduced by Senator Joe Grutters, the Florida bill tries to allocate to Bitcoin up to 10% of the specific public funds. Bitcoin positions this as a cover against inflation and a means to increase financial autonomy.
The proposal of Florida Bill SB 550 noted,
“Throughout history, Bitcoin has risen sharply in value and is increasingly accepted as an international exchange medium, and countries around the world, including the United States, hold Bitcoin within their treasury departments […]
The bill further noticed,
Bitcoin is seen as a hedge against inflation by sovereign countries and prominent investment advisers, including BlackRock, Fidelity and Franklin Templeton […] The state must have access to tools such as Bitcoin to protect against inflation. ”
If adopted, the legislation would enable the financial officer of the State to manage Bitcoin Holdings via qualified preservators, products traded by exchange rate or direct property.
Apart from its potential economic benefits, the initiative indicates a broader shift to Bitcoin acceptance at the level of the state, which strengthens its role as viable.
Other states that come to the path
Florida is not only in his Bitcoin -Push, because the interest in the acceptance of cryptocurrency is growing beyond the American borders.
North Carolina and South Dakota also actively investigate Bitcoin investments and join a growing list of states that take into account digital assets reserves.
In North Carolina, the staff of the speaker of the house recently involved with the industrial lawyer Dan Spuller, who claimed that the state wants to protect the “top position” in Bitcoin reserves.
In the meantime, South Dakota representative Logan Manhart is insisting on legislative action and emphasizes that “now is one of the few opportunities that the government has proactive.”
That is why, with at least 18 states that currently assess Bitcoin investments, the momentum for the acceptance of cryptocurrency continues to build at state level.
That said, a recent Reuters report Emphasizes an increase in crypto use in South America, especially in Brazil, where digital assets play an increasingly prominent role in financial transactions.
Gabriel Galipolo, the main leader of the Central Bank of Brazil, noted that the country has seen a significant increase in acceptance of cryptocurrency in the last three years, with Stablecoins emerging as the preference for payments.
Although this reflects a shift to decentralized financial systems, it also evokes concern between supervisors on supervision and financial stability.
Galipolo spoke at an event in Mexico City, the need for the need for a balanced regulatory framework to meet these challenges and at the same time promote innovation in the digital assets space.
He said,
“Most of them are to buy things and shop things from abroad. [This] Maintains a kind of opaque vision of taxes or for money laundering. “
What about Utah?
So, since the momentum reserves Bitcoin supported by the State, Utah is popping up as one of the top states in honor of formal legislation on the issue.
Dennis Porter, CEO of Satoshi Act Fund, recently suggested that Utah could be the first state to successfully implement such a policy.
Moreover, in a discussion with ‘sImply Bitcoin ”and Senator Cynthia Lummis, Porter revealed that 11 states have already introduced accounts to set up strategic bitcoin reserves, with expectations that this number could rise to 15 at the end of the year.
This growing interest underlines a broader shift into the role of Bitcoin in financial strategies of the state, indicating a potential wave of adoption that can reform traditional investment models in the US
