The state of Illinois is considering the establishment of a Bitcoin reserve, which would make them the first state in the US to hold the cryptocurrency in its fiscal reserves. The proposed legislation would allow the state treasurer to accept Bitcoin donations and manage the fund. After a five-year holding period, the Bitcoin can be transferred, sold, or converted into another cryptocurrency. The legislation also allows for the adoption of rules to administer the reserve. Cynthia Lummis, a US congresswoman, has expressed support for a national Strategic Bitcoin Reserve. Both the Czech National Bank and the governor of Texas have also expressed interest in holding Bitcoin reserves.



Other News from Today