#Utah lawmaker proposes reserving Bitcoin#

Utah State Representative Jordan Teuscher has introduced a bill that would authorize the state to invest in "digital assets," including Bitcoin and other cryptocurrencies. The bill would allow the state treasurer to invest in qualified digital assets and sets forth custody and management requirements. Additionally, the bill establishes regulatory guidelines for stablecoins and authorizes participation in staking and lending under certain conditions. The bill would allow the state to invest up to 10% of state funds in Bitcoin and stablecoins, paving the way for Utah to become the first U.S. state to invest public funds in cryptocurrency. The proposal has attracted widespread attention and sparked debate about the risks and benefits of government investment in cryptocurrencies. Some argue that investing public funds in volatile assets carries risks, while others believe it would allow Utah to capitalize on the growth of cryptocurrencies. The bill is currently under consideration, and its ultimate fate remains to be seen.