The Utah House Economic Development Committee passed HB 230, allowing the state to invest in crypto. The proposed allocation includes up to 5% of certain public funds for digital assets, with the bill now moving to a wider vote.
Governor Spencer Cox has demonstrated support for cryptocurrency through previous endorsements of related legislation. If passed, the bill could advance Arizona’s similar initiatives as 12 other states have proposed comparable legislation.
The legislation includes zoning provisions for crypto mining and the use of secure custody solutions for digital assets, further solidifying the state’s commitment to cryptocurrency and innovation in this sector.
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