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Business

Utah Inches Closer To Crypto Integration

The Utah Senate has passed HB230, the "Blockchain and Digital Innovation Amendments" bill, which moves the state closer to integrating crypto into its legal framework.

Haider Jamal
March 10, 2025

An Intuitive Framework

The original bill would have allowed Utah’s state treasurer to invest up to 5% of public funds in crypto with a market cap exceeding $500 billion, mainly targeting Bitcoin (BTC).

Source: X (@Dennis_Porter_)

Despite the removal of the crypto reserve, the bill still establishes a forward-thinking framework that allows residents to self-custody crypto, mine Bitcoin, run blockchain nodes, and participate in staking without interference.

Other States

The bill passed the Senate 19-7-3 and now awaits Governor Spencer Cox’s signature to become law. With the reserve provision removed, attention shifts to other states like Arizona and Texas, which are close to approving similar Bitcoin reserve bills.

Over 30 states have proposed crypto reserve legislation, but Montana, North Dakota, Wyoming, South Dakota, and Pennsylvania have rejected such an idea.

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Haider Jamal

Content Strategist

Haider is a fintech enthusiast and Content Strategist at CryptoWeekly with over four years in the Crypto & Blockchain industry. He began his writing journey with a blog after graduating from Monash University Malaysia. Passionate about storytelling and content creation, he blends creativity with insight. Haider is driven to grow professionally while always seeking the next big idea.