Missouri lawmakers have advanced a renewed effort to establish a state level Bitcoin strategic reserve, sending House Bill 2080 to the House Commerce Committee for further consideration. The referral, made on Feb. 19, marks the next step in the legislative process, where the bill will face a public hearing, committee vote, and possible amendments before returning to the House floor for debate and a final vote.
The proposal was introduced in January by Missouri Representative Ben Keathley. It would authorize the state treasurer to invest, purchase, and hold cryptocurrency using state funds, effectively creating a state-managed digital asset reserve.
Missouri Bitcoin Reserve Plan and Treasury Authority
Under the bill, the state treasurer would also be permitted to accept gifts, grants, and donations from Missouri residents and government entities to support the reserve. The legislation allows Bitcoin holdings to be stored for five years, after which they could be transferred, sold, or converted into another digital asset. Transactions involving foreign governments or entities outside Missouri would be prohibited.
The bill further proposes allowing government agencies to accept approved cryptocurrencies for payment of taxes, fees, fines, and other obligations.
If passed by the House, the measure would proceed to the Senate for additional review and voting before heading to Governor Mike Kehoe for signature or veto. A similar proposal introduced last year failed to move beyond the committee stage.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.