South Dakota Join Bitcoin Wave with New Bitcoin Reserve Bill

South Dakota Join Bi

South Dakota is Ready to Introduce Bill For Strategic Bitcoin Reserve

Countries across the world are starting to consider holding Bitcoin as part of their national reserves, inspired by US President Donald Trump’s supportive stance on cryptocurrency. In the past few months, several US states have introduced and even passed Bitcoin-friendly legislation. Now, South Dakota has joined the movement, putting forward its own Bitcoin proposal.

South Dakota House Representative Logan Manhart announced that he will introduce a bill in the South Dakota House to create a strategic Bitcoin reserve. He added that “Now is one of the few chances the government has at being proactive”.

Dennis Porter Support for Bitcoin Reserve Bill on Twitter

Dennis Porter, CEO and co-founder of the Satoshi Action Fund is excited with the upcoming positive wave of crypto in the US. On Logan Manhart’s Twitter Dennis Porter commented “Thank you for reaching out and looking forward to working with you to advance this bill!”

Kentucky’S Lawmaker TJ Roberts too Plans about Bitcoin bill

Kentucky Representative TJ Roberts has revealed his plans to introduce a new Bitcoin bill, joining the growing wave of pro-crypto legislation across the US. He announced that in the first week after his return to the General Assembly. He will propose a bill similar to the one recently passed in Arizona, aiming to establish a Bitcoin reserve for the state. 

Arizona Leads the Way as First US State to Pass Bitcoin Reserve Bill

Arizona has made history by becoming the first U.S. state to pass a Bitcoin Reserve Bill, marking a significant step forward for cryptocurrency adoption at the state level. On January 27, the Arizona Senate approved the Arizona Strategic Bitcoin Reserve Act (SB1025). As the first state in the U.S. to approve a Bitcoin bill, Arizona can now invest up to 10% of its public funds in Bitcoin. Motivated by President Donald Trump’s pro-crypto stance, several other states have introduced similar bills, but Arizona is first to adopt. As more states consider similar measures, Arizona’s decision could support the way for broader adoption across the country.

Pennsylvania was one of the early US states to submit the strategic Bitcoin reserve proposal, in November 2024.

Also read: Coinbase Expands Services in Argentina with Regulatory Approval
WHAT'S YOUR OPINION?
Related News
Related Blogs