CryptoSecond Bitcoin reserve bill introduced in Georgia, now without...

Second Bitcoin reserve bill introduced in Georgia, now without investment limit

-



Another Bitcoin reserve bill has been introduced in Georgia to allow the state treasurer to invest in Bitcoin without limits, only 10 days following the first bill’s submission.

If passed, the second Bitcoin (BTC) reserve bill introduced in the state would allow the state treasury to invest in Bitcoin without any investment restrictions. The bill, known as Senate Bill 228, would also require the Georgia State Treasury Department to develop its own policies and procedures that would permit the “acceptance, storage, and transacting of Bitcoin.”

The bill also stipulates that BTC investment by the state treasury will be held in accordance with local policies and requirements.

The second bill is considered a “partisan” competitor, going head-to-head with the first Bitcoin reserve bill. This is because SB 228 was introduced by Republican sponsors, while the first bill, SB 178, has Republican sponsors.

One key difference between the two bills is the presence of an investment limit for Bitcoin stockpiling. The first bill comes with an investment cap of 5%, meanwhile the second bill has no investment limit for the state treasury.

SB 228 was proposed by four state senators including, Senator Esteves and is currently awaiting review. The first Bitcoin reserve bill was introduced in Georgia on Feb. 14, by State Senator Greg Dolezal and co-sponsored by Senators Brandon Beach and Clint Dixon.

According to the Bitcoin Reserve Monitor, there are at least 21 U.S. states that are mulling over cryptocurrency strategic reserves. Each state is at different stages of legislation approval, with 19 state legislations still pending, two still considering proposals, while four have been rejected. Wyoming, Montana, North Dakota and Pennsylvania are the four states which have rejected proposals for Bitcoin reserve bills.

While no strategic Bitcoin reserve bills have been passed yet as of press time, Satoshi Act Fund CEO Dennis Porter predicted that Utah would become the first state in America to pass a strategic Bitcoin reserve bill.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Ethereum Closes on $2,800 in 7% Gain But Resistance Remains 

Ethereum has made a rare move north today, adding 7% in under 24 hours to reach $2,787 during...

John Karony trial starts with a confused witness and SafeMoon merch

The trial of former SafeMoon CEO John Karony saw testimony from a victim who lost $20K and a...

Imagen Network (IMAGE) Launches RLUSD-Based Components for Stable AI-Powered Social Transactions

Integration of Ripple's RLUSD stablecoin enhances transaction stability and consumer entry throughout decentralized social instruments. July 10, 2025 1:00 AM...

Advertisement

Akave Cloud Launches Decentralized Data Layer on Avalanche L1

Akave has launched a decentralized storage network called Akave Cloud on a dedicated Avalanche Layer 1 blockchain. This...

GMX crypto price outlook after team explains $40m hack

The GMX crypto token nosedived on...

Must read

Ethereum Closes on $2,800 in 7% Gain But Resistance Remains 

Ethereum has made a rare move north today,...

John Karony trial starts with a confused witness and SafeMoon merch

The trial of former SafeMoon CEO John Karony...

You might also likeRELATED
Recommended to you