Utah Senate Passes Bitcoin Bill, Removes BTC Investment Plan
The Utah Senate has passed a Bitcoin bill allowing residents to mine, store, and use crypto while removing a proposal for state Bitcoin investment. The bill now awaits Governor Spencer Cox’s decision.
Utah’s Senate has passed a new Bitcoin bill, but it no longer includes a plan for the state to invest in Bitcoin (BTC). Many expected Utah to be among the first states to hold Bitcoin in its financial reserves, but that idea was removed from the final version of the bill.
Instead, the bill focuses on protecting the rights of Utah residents when using cryptocurrency. It ensures that people can legally store digital assets, mine Bitcoin, run blockchain nodes, and take part in staking. These protections aim to support crypto users and encourage blockchain growth in the state.
The Senate approved the bill on March 7, and it now goes to Governor Spencer Cox for final approval. If signed into law, the bill will strengthen Utah’s position as a crypto-friendly state—without the government directly investing in Bitcoin.
Also Read: Michael Saylor: Bitcoin Could Add $100 Trillion to U.S. Economy & Solve Debt
