Second Bitcoin reserve bill introduced in Georgia, now without investment limit

Another bill on the Bitcoin reserve was presented in Georgia to allow the treasurer of the State to invest in Bitcoin without limits, only 10 days after the submission of the first bill.

If he passed, the second Bitcoin (BTC) The reserve bill presented in the State would allow the State Treasury to invest in Bitcoin without any investment restriction. The bill, known as the Senate 228 bill, would also oblige the Treasury Department of the Georgia State to develop its own policies and procedures which would allow “acceptance, storage and transaction of Bitcoin ”.

The bill also stipulates that investment in BTC by the Treasury of the State will be held in accordance with local policies and requirements.

The second bill is considered to be a “supporter” competitor, head-to-head with the first Bitcoin reserve bill. Indeed, SB 228 was presented by the Republican sponsors, while the first bill, SB 178has republican sponsors.

A key difference between the two invoices is the presence of an investment limit for bitcoin storage. The first bill is delivered with an investment ceiling of 5%, pending the second bill has no investment limit for the state treasure.

SB 228 was proposed by four state senators, including Senator Esteves and is currently waiting for an exam. The first Bitcoin reserve bill was presented in Georgia on February 14 by the State Senator Greg Dolezal and Coparraine by Senators Brandon Beach and Clint Dixon.

According to the Bitcoin reserve MonitorThere are at least 21 American states reflecting on strategic reserves of cryptocurrency. Each state is at various stages of the approval of the legislation, with 19 legislation of states still pending, two which still envisage proposals, while four have been rejected. Wyoming, Montana, Northern Dakota and Pennsylvania are the four states that have rejected the Bitcoin reserve invoices.

Although no Bitcoin reserve strategic bill has yet been adopted at the time of the press, the CEO of the Satoshi Act Dennis Fund Porter foreseen This Utah would become the first state in America to adopt a Bitcoin reserve strategic bill.