Illinois and Indiana Introduce Bills for Strategic Bitcoin Reserves
Illinois and Indiana are advancing legislation to establish a Bitcoin Reserve. Key developments include:
- Illinois is pursuing a Bitcoin reserve fund through House Bill 1844, recognizing Bitcoin as a hedge against inflation.
- The fund will be managed by the State Treasurer, allowing Bitcoin donations and holding assets for at least five years.
- Regular transparency reports on fund management are mandated.
- Indiana's House Bill 1322 focuses on blockchain integration and allows state-managed funds to invest in approved Bitcoin ETFs.
- This includes both spot Bitcoin ETFs and futures ETFs.
Other states like Utah and Arizona are also considering similar initiatives, with Texas prioritizing the Bitcoin Reserve for 2025. The future impact of these policies on state economies remains uncertain.