Utah Passes Bitcoin Bill Without Reserve Plan
- Utah lawmakers approve HB230, the “Blockchain and Digital Innovation Amendments” bill.
- The bill protects mining, staking, and self-custody rights for residents.
- Governor Cox’s signature is awaited for the bill to become effective in May 2025.
On March 7, 2025, Utah legislators passed HB230, a bill aimed at integrating cryptocurrency into the state’s legal framework. The bill, originally including a provision for a state Bitcoin reserve, underwent changes before approval by the Senate.
The Bitcoin Reserve Contention
Representative Jordan Teuscher and Senator Kirk A. Cullimore initially introduced HB230 with the intent of establishing a Bitcoin reserve in Utah. However, the provision was removed during the final Senate reading due to concerns over the state being an early adopter of such a financial policy.
Approved Bill Protects Utah Crypto Holders
Although the reserve clause was eliminated, HB230 still includes provisions that support Utah’s blockchain ecosystem. Residents are granted the right to self-custody digital assets without state interference, ensuring freedom in the crypto space. The bill also protects activities like mining, operating blockchain nodes, and staking, essential for decentralized cryptocurrencies.
Bitcoin Reserve Bills Across the US
Utah’s decision to remove the reserve plan aligns with a nationwide trend of Bitcoin integration. While 25 out of 31 introduced Bitcoin reserve bills in the US are still active, states like Arizona and Texas are advancing similar legislation. Additionally, President Donald Trump signed an executive order for a Strategic Bitcoin Reserve on March 7, 2025, showcasing increasing acceptance of Bitcoin at both state and national levels.
