Bitcoin Initiatives Emerge Across Several U.S. States

The House of Representatives in North Carolina introduced a bill that would allow cryptocurrencies to be used for transactions such as tax payments.

“Digital assets are recognized as a valid medium of exchange in North Carolina. A transaction cannot be rejected or its legal force disputed solely because it involves cryptocurrencies,” the document states.

The Digital Asset Freedom Act outlines the criteria digital assets must meet to gain such status:

• market capitalization of at least $750 billion;
• daily trading volume exceeding $10 billion;
• trading on the open market for at least ten years;
• proven security and resistance to censorship.

The document emphasizes decentralization: digital assets must be launched fairly, without pre-mining, insider distributions, or control by centralized entities, and must not depend on a single entity or small group of stakeholders for operation and governance.

No specific examples of cryptocurrencies meeting these standards are provided.

New Hampshire

On April 10, the New Hampshire House of Representatives approved the Bitcoin Reserve Bill (SBR) with 192 votes in favor and 179 against.

If approved by the Senate and governor, the document would allow the treasurer to allocate up to 5% of the general and other authorized funds for investments in precious metals and certain digital assets.

The bill also establishes the procedure for their storage.

As of the end of 2024, the AUM of New Hampshire’s general fund stood at $3.6 billion.

The bill specifies that investments can only be made in cryptocurrencies with a capitalization exceeding $500 billion. Currently, only digital gold meets this criterion.

New Hampshire became the fourth U.S. state where an SBR bill has passed one of the two chambers of Congress.

Arizona leads the race among states to adopt SBR.

Florida

On April 10, Florida’s House Insurance and Banking Subcommittee unanimously passed an SBR bill. The document must pass through three committees before reaching the state’s House of Representatives.

Earlier, the U.S. Congress called for the plan to create a Bitcoin reserve to be scrapped. Shortly before, an initiative emerged that would protect SBR from cancellation.

As reported in K33 Research, the push to establish an SBR reflects serious governmental intentions regarding digital assets.

On March 11, Cynthia Lummis introduced an updated Bitcoin Act in the U.S. Senate, which would allow the government to hold more than 1 million BTC as part of a crypto reserve.