Massachusetts to hold a hearing to review the Bitcoin Reserve Bill
Jinse Finance reported, citing Cointelegraph, that a committee of the Massachusetts state legislature plans to discuss a Bitcoin strategic reserve bill first introduced in February. According to an update on Friday regarding the "Act Relative to a Bitcoin Strategic Reserve" proposed by Republican State Senator Peter Durant, the Massachusetts Joint Committee on Revenue will hold a hearing to review the bill. It is currently unclear how likely any Republican-led bill is to pass in the Massachusetts legislature. The Democratic Party currently holds an absolute majority in both the state House and Senate, and controls the governorship. All of the state's representatives in the U.S. House and Senate are also Democrats. The bill proposed by Durant would allow "any Bitcoin or other digital assets seized by Massachusetts" to be deposited into reserves, and would authorize the state treasury to invest up to 10% of the Massachusetts Stabilization Fund in cryptocurrencies.
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