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>>Missouri Pushes Ahead with a Strategic Reserve Bill as Bitcoin Gains Traction in the Heartland

Missouri Pushes Ahead with a Strategic Reserve Bill as Bitcoin Gains Traction in the Heartland

crypthub

about 6 hours ago

Legislative Progress

The Missouri House advanced House Bill 2080 to the Commerce Committee for hearings and possible amendment. Lawmakers will hear expert testimony before a full floor vote. The committee stage gives the proposal a clearer path despite the session’s time constraints.

Fund Structure and Rules

The bill creates a Bitcoin Strategic Reserve Fund within the state treasury, managed by the treasurer. Bitcoin can enter the fund as gifts, grants, donations, bequests, or transfers from eligible residents and certain agencies. Assets must remain locked for at least five years before any sale or transfer.

Management and Transparency

Custody safeguards require cold‑storage and prohibit dealings with foreign or illicit actors; third‑party custodians may be used. The treasurer must issue a biennial report detailing holdings, transactions, and security measures. Reports are due by December 31 of each even‑numbered year.

Support and Opposition

Proponents argue the reserve lets the state accept crypto gifts without risking general funds. Critics warn of Bitcoin’s price volatility and political exposure of public assets. Debate will focus on the adequacy of safeguards and the necessity of state involvement in cryptocurrency.