One of the lawmakers in Western Virginia recently submitted a bill, if approved, the state government will be able to invest up to 10 % of public funds in Bitcoin (BTC) and/or precious metals.
Senate Bill 465 The Treasury Board of Directors in Western Virginia will illuminate to invest in encryption assets with the maximum market with more than 750 billion dollars on the basis of the previous evaluation year.
The only encryption that currently meets the maximum standards of the market is BTC. Possible legislation does not include the same requirements for the maximum market for Stablecoins, although dollar assets that will need appropriate regulatory approval in the United States. The draft law will also enable the Treasury Investment Council to purchase silver, gold and platinum.
Any encryption purchased by the government treasurer must be kept directly through a safe solution to the nursery, on behalf of the state by a qualified guard or through a trading box for exchange (ETF). The draft law will also enable the state treasurer to share encryption.
Chris Rose, a member of the Republican Senate, presented potential legislation last week.
In other states, legislators had similar ideas.
Senate members of Texas meet to obtain a hearing in a draft encryption law, and the “Bitcoin Strategic Reserve Law” also works on its way through the legislative process in Arizona. Uta -state lawmakers also think about a parallel proposal.
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Disclosure: The views expressed in Daily Hodl are not an investment advice. Investors must do due care before making any high -risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trading on your own responsibility, and any losses you may bear are your responsibility. Daily Hodl does not recommend buying or selling any encrypted currencies or digital assets, and Hodl Daily Andersor is an investment. Please note that the daily Hodl participates in dependent marketing.
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