COINOTAG News reports that as of February 20th, twenty state-level administrative regions in the United States are actively pursuing legislative measures concerning cryptocurrency. Currently, fifteen states have progressed with their initiatives, having accepted various bills that are now undergoing committee reviews, subsequently establishing operational legal frameworks. The proposed Bitcoin Strategic Reserve Act is instigating a significant regional legislative momentum in the U.S. For instance, in Utah, Bill HB0230 is poised to permit four public funds in the state to allocate up to 5% of their total assets towards Bitcoin investments. Based on projections from Utah’s 2024 financial report, this could translate to a notable purchasing power exceeding $70 million. Analysts at SoSovalue perceive the Strategic Bitcoin Reserve Act as a pivotal moment for Bitcoin within traditional financial infrastructures, positioning it toward potential acceptance as a core element in institutional asset allocation and redefining its status in the global financial framework.
Source: https://en.coinotag.com/breakingnews/bitcoins-strategic-reserve-act-sparks-legislative-momentum-across-u-s-states/