Kentucky and Maryland are the newest states that consider Bitcoin Reserve accounts

Maryland and Kentucky became a member of one this week Growing list of American states thinking Bitcoin And other digital assets as a way to strengthen their reserves.

Dubbeds the strategic Bitcoin Reserve Act of Maryland, a measure introduced by the Democratic State Departure Caylin Young on Friday would enable the State to determine that, according to a description of the text of the bill.

While some state laws have introduced accounts that broadly demand investments in digital assets, Young’s Bill explicitly states the largest cryptocurrency per market capitalization. In addition, the bill authorizes the treasurer of the state of Maryland to invest in Bitcoin with the help of funds derived from the “enforcement of certain gambling violations.”

The bill of Young was preceded by a bill with a less descriptive title in Kentucky – stimulating house Bill 376. Introduced by TJ Roberts, a republican member of the Kentucky State House of Representatives, evokes the bill that the state starts to invest in digital assets and precious metals.

Bitcoin, nor any other cryptocurrency, is explicitly mentioned in name of Roberts, according to the Bill’s text. However, it limits digital assets that can be purchased by the state to people with a market capitalization of at least $ 750 billion, making Bitcoin Kentucky the de facto option of Kentucky.

All in all, the developments represent two -part interest in setting up Bitcoin reserves at state level. The activity follows President Donald Trump yet to be realized promise At the campaign track last year he would make a strategic Bitcoin stock.

Until now, North Dakota is the only US state that has rejected a bill with regard to the construction of a Bitcoin reserve, according to the Bitcoin Reserve Monitor. Sixteen other states, with the exception of Maryland and Kentucky, have proposed similar bills.

Some states are closer to making proposals that become the law. In Utah was a crypto reserve account passed Last month from the committee, the account of the account for further approval. A similar bill was also adopted in Arizona last month, so that it was set up for the senate floor of the state.

Published by Andrew Hayward