Ohio Introduces Second Bitcoin Reserve Bill

Ohio has introduced a second Bitcoin reserve bill, as cryptocurrency legislation gains momentum across the US ahead of Donald Trump’s inauguration.

Ohio House GOP Majority Whip Steve Demetriou Suggested Legislation allowing the state to manage Bitcoin strategy (Bitcoin) reserve, shared by Satoshi Act Fund founder Dennis Porter on December 19 during the X Spaces event.

Demetriou’s bill follows a similar proposal from Rep. Derek Merrin, who would also do so position Ohio as a Bitcoin reserve holder. Speaking on X Spaces, Demetriou explained that his legislation would enable Ohio to allocate up to 10% of its state-controlled funds to Bitcoin stocks.

“Bitcoin could help tap into Ohio’s existing energy reserves,” Demetriou added. Ohio is known for having vast natural gas reserves and a competitive energy grid.

The Ohio GOP majority caucus did not offer a specific timeline for the bill’s passage, but expressed hope that House bureaucracy would not delay progress.

US legislative talks have increasingly focused on proposals related to Bitcoin following President-elect Donald Trump’s recent election victory.

Earlier, Porter said that the Bitcoin renaissance was… spotted Gathering momentum in more than a dozen states and counting. Texas, Ohio, and Pennsylvania were among the few states that considered Bitcoin reserve laws.

In Washington, Senator Cynthia Lummis did just that He called For BTC Federal Reserve Policies. In response to Federal Reserve Chairman Jerome Powell, Loomis said the Senate should authorize the central bank to hold bitcoin. Powell previously He explained The Fed can’t do that Own BTC under current laws.