Illinois leads the United States to create the first bitcoin reserve

Illinois may soon become the first American country to keep Bitcoin in its financial reserves if legislators agree to propose a strategic bitcoin reserve referred to in the John Cabello rules committee.

On January 29, it was the Bitcoin Strategic Law Referred To the Rules Committee to create regulations and follow the rapid approval process. Illinois MP John Capello submitted the bill to lay the foundation for Bitcoin (BTC) To become the new strategic origin of Illinois.

Bitcoin reserve bill for Illinois

Under the new legislation, Illinois State treasurer will manage the fund and allow him to accept gifts, grants and donations from the BTC residents and government entities to create deposits. Upon entering the state custody, the draft law suggests that BITC must be held for a period of not less than five years.

After a five -year contract, the state’s secretary may transfer, sell, or transfer BTC to another encrypted currency. In addition to allowing the Treasury Secretary to employ the BTC administration, the draft law includes a language in managing and securing the fund, and submitting reports on the state of the fund. The Illinois residents will also be allowed to make voluntary donations in BTC to the state fund.

The legislation also allows the Secretary of the State Fund to adopt rules for managing this reserve. If it passes, the strategy Bitcoin The reserve law will immediately, which may make Illinois the first American state to implement an official strategy on Bitcoin Reserve.

Adoption of the increasing bitcoin reserves:

Sinthia Lomes, long -standing BTC in the US Congress that has the pressure For the National Strategy Bitcoin Reserve, it states that BTC can serve as a hedge against inflation and volatile economic conditions. On January 30, she published that she wanted to hold general listening sessions in the Bitcoin Strategic Reserve. BTC reserves grow popular among other institutions as well.

On January 29, ruler The Czech National BankAlex Michl revealed that Czechia may be the first in Western Europe to carry BTC in its reserves. Michl has suggested allocating up to 5 % of CNB with a value of 140 billion euros, which is 145.6 billion dollars, a BTC protected, a step that represents the first step towards institutional encryption at the national level.

In addition, the governor Dan Patrick from Texas as well Declare He intends to create the “Texas Bitcoin Reserve” as one of his most important legislative priorities for the 2025 session.