A proposal in the House of Representatives in Montana failed to present the Bitcoin government reserve fund. The inflation protection law was passed, as it was called, by the Business and Labor Committee in the House of Representatives, but it was voted by the full parliament in its second reading on February 22.
The bill had created a special revenue account for the state’s investment board to invest in precious metals and digital assets. It was presented by Republican actor Cortis Schumer on February 7 without democratic support.
The fund received a non -party rejection
However, the final vote was not on partisan lines, as 16 Republicans and one of the Democrats were opposed. The final voting was 41 and 59 against.
theinvoiceIt was two long pages. It would have allowed transfers from the state’s general fund in the state’s inflation protection fund by the Legislative Authority with a maximum of $ 50 million. The draft law had left revenues from the account in the account and given the control of the state legislative council for money in the account.
Digital assets will have to have a market value of 750 billion dollars to be eligible for investment under the bill. In other words, the draft law allows investment in Bitcoin, because it is the only qualified digital origin.
The discussion on the bill focused on whether the fund is the useful use of taxpayers or not, as supporters said it is a way to improve state funds. The opponents called on the draft speculation and risky law.
“I do not expect these things [cryptocurrency] “I cannot imagine the majority of your voters want you,” Bill Mercer Republican told the association.
There is another law that affects the currently encrypted currency before the Legislative Council in Montana. A law reviewing the coded currency lawsto forbidThe state is to participate in testing the digital currency of the Central Bank and giving legitimacy to pay taxes in the encrypted currency. It also protects mining and standing and exempts some distinctive symbols from the laws of state security.
Montana passed a law in 2023 to protect coding mining in the state. The law prohibits the discriminatory benefit rates for encryption mines workersIt is forbiddenLocal governments from “exercise of mining for digital assets”. It also defines digital assets as personal property and prohibits imposing taxes on the cryptocurrency used as a means of payment.
The Federal Digital Asset Fund may be created
David Sachs, the so -called White House Caesar encrypted, confirmed at a press conference that the Bitcoin National Reserve will be considered. Many states were launched before the federal government. According to Bitcoinlaws.com, 18 states currently have the suggestions of the Cryptocurrency Reserve Fund.
Utah is the farthest in the future. Blockchain modifications and digital innovationinvoiceHe made it through the House of Representatives and it is its second reading in the Senate.
Montana joins North Dakota, Pennsylvania, South Dakota and Woewing Kalali voted on cryptocurrency reserves. All four federal lawmakers in Montana are strongSupportersFrom encryption.
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