US States Advance Crypto Legislation, Exploring Bitcoin Reserves and Digital Asset Investments

Across the United States, state lawmakers are actively introducing crypto-focused legislation, signaling a growing acceptance of digital assets. Since the beginning of February, nine states have proposed bills related to cryptocurrency, ranging from establishing Bitcoin reserves to forming task forces for digital asset policy. On February 10, North Carolina introduced a bill allowing the state treasurer to invest public funds in cryptocurrency exchange-traded products (ETPs) with a market capitalization of $750 billion over the previous 12 months, not exceeding 10% of total investment funds. On February 13, Michigan proposed amending budget rules to create a crypto reserve, potentially allocating up to 10% of state investment funds to crypto, either directly or through ETPs. New York senators are seeking to establish a crypto task force to examine the state of crypto by December 15, 2027. Texas is considering expanding its Bitcoin-only reserve to include other cryptocurrencies with a market capitalization of at least $500 billion over the past 12 months. As of this week, four states have introduced crypto bills, reflecting a nationwide trend to accommodate crypto businesses and investments. Currently, 20 US states have proposed Bitcoin bills, including North Carolina planning to allocate over $2.6B to $BTC purchases. This move is expected to stabilize Bitcoin's price and legitimize crypto, potentially boosting altcoin adoption. New crypto projects like Solaxy ($SOLX), BTC Bull Token ($BTCBULL), MIND of Pepe ($MIND), and Koma Inu ($KOMA) are anticipated to benefit from this increased legitimacy.