As part of significant development in a regulatory landscape evolving in the United States, Ohio presented a bill to establish a Bitcoin strategic reserve.
Directed by the Whip of the majority Steve Demetriou and supported by six co-sponsors, the legislation aims to strengthen the reservations of the Treasury of the State by authorizing the allocation of funds in Bitcoin.
Ohio Bill offers a Bitcoin strategic reserve
THE Invoice proposes that Ohio can invest up to 10 % of its general fund, its budgetary stabilization fund and its price fident fund in Bitcoin. This decision is considered a proactive response to the increase in inflation and the need for innovative financial strategies.
Market expert Dennis Porter, founder of the Satoshi Action Fund, expressed his firm support for the bill, highlighting his potential to protect money from taxpayers from Ohio residents.
The main characteristics of the proposed legislation include robust childcare solutions which impose either the self -guard or the use of a qualified goalkeeper, thus guaranteeing the security of state goods. investment.
The bill adopts a technologically neutral position by referring to “digital assets”, thus minimizing political friction and facilitating faster action to protect the purchasing power of public funds.
In particular, the proposal stipulates that only Bitcoin is eligible for the reserve, demanding a market capitalization of $ 750 billion and a average evaluation During the previous 12 months, thus imposing strict qualifications. Demetriou stressed the importance of this initiative, declaring on social networks:
Proud to have presented a bill that will protect taxpayers from Ohio residents. By authorizing the possibility of investing in a Bitcoin strategic reserve, we can protect ourselves against inflation and maintain Ohio at the cutting edge of monetary and technological innovation.
Trump’s decree
This legislative effort coincides with a broader campaign in favor of the acceptance of cryptocurrencies at the federal level. Recently, President Donald Trump issuing A complete decree focused on the protection and promotion of digital assets.
The prescription aims to ensure that banking services remain accessible to cryptocurrency companies, contradicting the affirmations that regulators have put pressure on the banks so that they break their links with these companies.
In addition, the decree prohibits the creation of digital central bank currencies (CBDC) in the United States, which could compete with existing cryptocurrencies.
In a notable change, the SECURITIES AND EXCHANGE Commission (SEC) of the United States has also repealed the accounting directives which previously prevented companies from protecting cryptographic assets for third parties.
Such regulatory adjustments should promote greater adoption of digital assets by reducing operational complexity for companies involved in the crypto space.
During the electoral campaign, Trump positioned himself as a “crypto president”, promising his support for Adoption of digital assetsA striking contrast with the regulatory approach adopted by the administration of former president Joe Biden, who brought legal proceedings against large scholarships such as Coinbase and Binance for alleged non-compliance with American laws.
At the time of writing this article, Bitcoin oscillates around the $ 105,690 mark, reflecting slight drops of 0.3 % in the last 24 hours and 0.7 % in last week.
Dall-e star image, tradingView.com graphic
