- Utah’s lawmakers approve the Bitcoin reserve bill but remove a prominent clause.
- This bill excludes a section that authorized the state treasurer to invest in Bitcoin.
- Apart from Utah, Texas, Arizona, and Oklahoma, have approved Bitcoin reserve bills.
Following the establishment of the Strategic Bitcoin Reserve by U.S. President Donald Trump, Utah’s Senator has passed a Bitcoin bill, but with an exclusion of the state treasurer from investing in Bitcoin. The HB230 “Blockchain and Digital Innovation Amendments” has passed Utah’s Senate by a 19-7-3 vote and only provides Utah citizens with basic custody protections, the right to mine and participate in staking.
After the approval from the Senate, the House concurred with the Senate’s revisions, approving the bill by a 52-19 vote. The bill prohibits local governments from imposing zoning and regulations that unfairly target asset mining businesses operating in industrial areas.
Originally, the bill was introduced by Rep Jordan Teuscher and sponsored by Sen. Kirk Cullimore, which includes a rule allowing the Utah state treasurer to invest 5% of funds into digital assets. The bill also mentions the investment with a market capitalization exceeding $500 billion targeting Bitcoin as the main asset.
Related: New Hampshire Advances Bitcoin Reserve Bill With 16-1 Vote
As of March 9, 2025, the bill has been sent to Utah Governor Spencer Cox’s desk for final approval. If signed, it will be effective from May 7, marking a significant but less ambitious step towards blockchain adoption compared to the older vision. Apart from Utah, states like Texas and Arizona have approved the Bitcoin reserve bill.
While Texas passed the bill on March 6, 2025, with a 25-5 Senate vote, Arizona’s SB 1025, passed by the Senate Finance Committee, proposed that the State invest up to 10% of public funds in Bitcoin and other digital assets. These actions highlight a growing trend of state-level crypto integration in the United States.
Following Arizona and Texas, Oklahoma’s HB 1203, the Strategic Bitcoin Reserve Act, passed the House Government Oversight Committee by a 12-2 vote. However, states like South Dakota, North Dakota, Pennsylvania, and other states have rejected similar bills citing concerns over Bitcoin’s volatility. Utah’s decision reflects the broader struggle of embracing digital assets, with Bitcoin falling below $80K, underscoring the prevailing hesitation around the coin’s volatility. As the bill awaits the governor’s approval, the growing divide among U.S. states highlights the ongoing debate over Bitcoin’s role in public finance.
