Utah Bitcoin Reserve Bill Advances to Senate Floor for Second Reading

BlockBeats News, February 21st, according to Cointelegraph, legislation allowing Utah to invest in Bitcoin has passed a state Senate committee. The HB230 "Blockchain and Digital Innovation Amendment" bill was approved by the Utah State Revenue and Taxation Committee on February 20th with a 4-2-1 vote result and will now move to the Senate for a second and third reading, ultimately leading to a vote.

The Bitcoin Reserve Bill has already passed the House, so if it gets approval in the Senate, Utah's Republican Governor Spencer Cox would only need to sign the bill for Bitcoin to become a reserve asset.