Utah Bitcoin Reserve Bill Enters Second Senate Review

According to Cointelegraph, legislation allowing Utah to invest in Bitcoin has been passed by a state Senate subcommittee. The HB230 "Blockchain and Digital Innovation Amendment" bill was passed by the Utah Revenue and Taxation Subcommittee on February 20th with a 4-2-1 vote, and is currently undergoing its second and third readings before proceeding to the final Senate vote. The Bitcoin Reserve Act has been passed in the House of Representatives, so if it is approved in the Senate, Utah Republican Governor Spencer Cox only needs to sign the bill, and Bitcoin can become a national reserve asset.