<\/p>\n
A West Virginia lawmaker recently introduced a bill that, if passed, would enable the state government to invest up to 10% of public funds into Bitcoin (BTC<\/a>), stablecoins and\/or precious metals.<\/p>\n Senate Bill 465<\/a> would greenlight the Board of Treasury Investments of West Virginia to invest in crypto assets with market caps of more than $750 billion averaged over the previous calendar year.<\/p>\n The only crypto that currently meets the market cap criteria is BTC. The potential legislation doesn\u2019t include the same market cap requirements for stablecoins, though dollar-pegged assets would need to have appropriate regulatory approval in the US. The bill also would enable the Board of Treasury Investments to buy silver, gold and platinum.<\/p>\n Any crypto purchased by the state treasurer would need to be directly held via a secure custody solution, on behalf of the state by a qualified custodian or through an exchange-traded fund (ETF). The bill would would also enable the state treasurer to stake crypto.<\/p>\n Chris Rose, a Republican state senator, introduced the potential legislation last week.<\/p>\n Lawmakers in other states have had similar ideas.<\/p>\n Texas senators are meeting<\/a> <\/a>for a hearing on a crypto reserves bill, and a \u201cStrategic Bitcoin Reserve Act\u201d has also been working its way through<\/a> the Arizona legislative process. Lawmakers in Utah are also considering<\/a> a parallel proposal.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" A West Virginia lawmaker recently introduced a bill that, if passed, would enable the state government to invest up to 10% of public funds into Bitcoin (BTC), stablecoins and\/or precious metals. Senate Bill 465 would greenlight the Board of Treasury Investments of West Virginia to invest in crypto assets with market caps of more than […]<\/p>\n","protected":false},"author":2,"featured_media":370849,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-370824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/370824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=370824"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/370824\/revisions"}],"predecessor-version":[{"id":370852,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/370824\/revisions\/370852"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/370849"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=370824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=370824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=370824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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