Utah drops Bitcoin reserve clause from its Blockchain and Digital Innovation Amendments bill

A clause of the bill on modifications to the innovation of blockchain and digital innovation of UTAH, which would establish a Bitcoin reserve, was abandoned just before the final vote of the Senate.

Called House Bill 230The Utah State Senate adopted the bill with a vote 19-7-3 on March 7. However, this version no longer includes the Bitcoin reserve clause. The bill is now heading for Governor Spencer Cox for approval.

Initially, the bill propose Allow the Treasurers of the Utah State to invest up to 5% of certain public funds in Bitcoin and other eligible digital assets.

Utah directed the Bitcoin reserve race and was largely should be the first American state to adopt such a law Due to its short 45 -day legislative window and its strong political momentum. However, the clause was abandoned during the final reading of the Senate on March 7, and the room later designed With the amendment in a vote of 52-19-4, sealing its withdrawal from the bill.

With the missing reserve clause, HB230 only includes provisions that protect the right to extract Bitcoin, execute a node and participate in the features, to ensure that residents can engage in blockchain activities without regulatory exceeding. It also establishes basic protections, offering lighter rights to Utahns when detention of digital assets.

Now, the Bitcoin reserve race has shrunk in Texas and Arizona, the two states from the front with their own legislative efforts.

According to Bitcoin laws, two bills on the Arizona Senate and the Texas Senate bill (TX) are now online to establish a Bitcoin reserve supported by the State. Arizona bills have already authorized Committee stages and await final votes, while the Texas proposal has home.

Meanwhile, other states, including Kentucky, New HampshireIllinois and Iowa, still have in progress Bitcoin reserve invoices, but they remain further in the legislative process.

In related news, US President Donald Trump signed a decree On March 7, which established a strategic bitcoin reserve and a stock of American digital assets. However, the reserve would be funded through assets seized by the federal government instead of direct investment.