Utah Passes Cryptocurrency Law Without Bitcoin Reserve Provision

In the final stage of voting, the Utah State Senate (USA) removed a key provision from bill HB230, which proposed the creation of a Strategic Bitcoin Reserve (SBR).

The document, titled “Blockchain and Digital Innovation Amendments,” lays the groundwork for integrating cryptocurrencies into the state’s legal framework.

The initial version allowed the local treasury to invest up to 5% of public funds in cryptocurrencies with a market capitalization exceeding $500 billion over the past year. Among current digital assets, only Bitcoin meets this requirement.

Despite the removal of this provision, the new law protects the rights of Utah residents—allowing them to mine Bitcoin, run blockchain nodes, participate in staking, and store digital assets independently without government interference.

The bill was supported by 19 senators, opposed by seven, with three abstentions. It now awaits the signature of Governor Spencer Cox.

Utah could have become the first U.S. state to implement a Bitcoin reserve. Following the amendment to HB230, other states—Arizona and Texas—are now closer to approving similar initiatives.

Earlier in February, SBR bills were rejected in Montana, Pennsylvania, North and South Dakota, as well as Wyoming.