Lawmakers in the US states of Minnesota and Alabama have introduced companion bills to allow the states to buy Bitcoin reserves. The Minnesota Bitcoin Act, or HF 2946, was introduced to the state\u2019s House by Republican Representative Bernie Perryman on April 1, following a similar bill introduced on March 17 by GOP state Senator Jeremy Miller. In Alabama, Republican state Senator Will Barfoot introduced Senate Bill 283 on the same day, while a bi-partisan group led by Republican Mike Shaw filed the identical House Bill 482. The bills allow the states to invest in crypto, primarily limiting it to Bitcoin (BTC). Minnesota’s Bitcoin Act would enable the state’s investment board to invest in Bitcoin and other cryptocurrencies, exempt crypto gains from state income taxes, and allow residents to pay state taxes with Bitcoin. The Alabama bills don\u2019t explicitly name Bitcoin but set a minimum market value criterion of $750 billion, which only Bitcoin currently meets. This move follows the introduction of 26 Bitcoin reserve bills in various US states, with Arizona leading the race to pass such a law. Pennsylvania was one of the first states to propose a Bitcoin reserve bill in November 2024, although it was rejected, along with similar bills in Montana, North Dakota, South Dakota, and Wyoming. Political confrontations between parties have hindered progress in some states, like Montana. The bills aim to expedite the legislative process for Bitcoin reserves.<\/p>\n","protected":false},"excerpt":{"rendered":"
Lawmakers in the US states of Minnesota and Alabama have introduced companion bills to allow the states to buy Bitcoin reserves. The Minnesota Bitcoin Act, or HF 2946, was introduced to the state\u2019s House by Republican Representative Bernie Perryman on April 1, following a similar bill introduced on March 17 by GOP state Senator Jeremy […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/87342"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=87342"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/87342\/revisions"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=87342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=87342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=87342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}