- Ohio Senator Sandra O’Brien proposes a bill to establish a state Bitcoin reserve.
- The bill requires Bitcoin investments to be held for at least five years.
- The proposal includes accepting Bitcoin for government payments and donations.
Ohio is advancing a proposal to establish a “Bitcoin Reserve Fund.” Senator Sandra O’Brien introduced Senate Bill 57, which aims to authorize the state treasurer to invest public funds exclusively in Bitcoin (BTC). The bill was referred to the Financial Institutions, Insurance, and Technology Committee the day after its introduction, on January 28.
I just introduced legislation to create an Ohio Bitcoin Reserve Fund. The crypto world is here, and Ohio needs to be a leader. Crypto will be a major part of President Trump’s term. When his working group issues recommendations, Ohio will be ready.
— State Senator Sandra O'Brien (@OBrienOH32) January 28, 2025
State Bitcoin Reserve Proposal
If passed, the bill will require Bitcoin holdings to be stored securely for at least five years. Ohio’s treasury will manage these assets using approved custody solutions. Beyond investments, the bill mandates state agencies to accept Bitcoin for various payments. Residents will be able to use Bitcoin for taxes, fines, and other fees. Any received cryptocurrency will be converted into Bitcoin and stored in the reserve.
The proposal allows Ohio residents, government agencies, and universities to donate Bitcoin to the fund. It also includes a recognition program to honor significant contributions. O’Brien has emphasized the importance of embracing digital assets, stating that Ohio must lead in cryptocurrency adoption.
Furthermore, O’Brien noted that growing interest in cryptocurrency at the federal level could influence state policies. She referenced former President Donald Trump’s recent executive order, which created a working group to evaluate a potential national digital asset reserve.
A similar effort was introduced in December by House Republican leader Derek Merrin. His bill, HB 703, proposed granting the treasurer the authority to allocate Bitcoin to a reserve fund. Merrin argued that Bitcoin could serve as a hedge against the declining value of the U.S. dollar.
Growing Crypto Adoption Among US States
Several other U.S. states are also advancing cryptocurrency-related legislation. On January 28th, the Arizona senate gave a nod to their strategic Bitcoin reserve bill, becoming the first US state to approve it. The Senate panel authorized public funds to invest more than 10% of their assets in virtual currencies.
At least twelve U.S. states have proposed legislation for Bitcoin reserves, signaling a growing interest in cryptocurrency at the state level. Texas and South Dakota are among the states considering Bitcoin as a strategic asset.
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