PANews reported on September 30th that, according to Cointelegraph, a committee of the Massachusetts legislature plans to discuss a Bitcoin strategic reserve bill first proposed in February. In a Friday update on the bill, "Regarding a Bitcoin Strategic Reserve," proposed by Republican State Senator Peter Durant, the Massachusetts Joint Committee on Taxation will hold a hearing to consider the bill. It is unclear how likely any Republican-led bill is to pass the Massachusetts legislature. Democrats currently hold supermajorities in the State House and Senate and control the governorship. All of the state's representatives in the U.S. House and Senate are also Democrats. Durant's bill would allow "any Bitcoin or other digital assets seized in Massachusetts" to be deposited in the reserve and authorize the state treasurer to use up to 10% of the Massachusetts Stabilization Fund to invest in cryptocurrencies.PANews reported on September 30th that, according to Cointelegraph, a committee of the Massachusetts legislature plans to discuss a Bitcoin strategic reserve bill first proposed in February. In a Friday update on the bill, "Regarding a Bitcoin Strategic Reserve," proposed by Republican State Senator Peter Durant, the Massachusetts Joint Committee on Taxation will hold a hearing to consider the bill. It is unclear how likely any Republican-led bill is to pass the Massachusetts legislature. Democrats currently hold supermajorities in the State House and Senate and control the governorship. All of the state's representatives in the U.S. House and Senate are also Democrats. Durant's bill would allow "any Bitcoin or other digital assets seized in Massachusetts" to be deposited in the reserve and authorize the state treasurer to use up to 10% of the Massachusetts Stabilization Fund to invest in cryptocurrencies.
Massachusetts to hold hearing on Bitcoin Reserve Act
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PANews reported on September 30th that, according to Cointelegraph, a committee of the Massachusetts legislature plans to discuss a Bitcoin strategic reserve bill first proposed in February. In a Friday update on the bill, "Regarding a Bitcoin Strategic Reserve," proposed by Republican State Senator Peter Durant, the Massachusetts Joint Committee on Taxation will hold a hearing to consider the bill. It is unclear how likely any Republican-led bill is to pass the Massachusetts legislature. Democrats currently hold supermajorities in the State House and Senate and control the governorship. All of the state's representatives in the U.S. House and Senate are also Democrats. Durant's bill would allow "any Bitcoin or other digital assets seized in Massachusetts" to be deposited in the reserve and authorize the state treasurer to use up to 10% of the Massachusetts Stabilization Fund to invest in cryptocurrencies.
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