News

The Missouri legislature is currently considering a bill that could significantly affect how state authorities manage public funds. Republican Senator Ben Keatley proposed including bitcoin in the Treasury's investment portfolio. This is not just a permit to purchase cryptocurrencies, but the creation of a long-term reserve with clear rules for storage and use.

The initiative gives the Missouri Treasury the right to invest budget funds in bitcoin, but with the condition that the purchased coins must be stored for at least five years — this is a mandatory retention period. After this period, the authorities will be able to decide what to do with the cryptocurrency: sell, exchange for ordinary money or convert into other digital assets.

In addition, the bill provides new opportunities for interaction with citizens and companies. Residents and organizations of Missouri will be able to transfer bitcoins to the state in the form of donations or voluntary contributions. It is also planned to allow the payment of taxes, fines and government duties in cryptocurrency, but only the one approved by the state tax service.

To protect assets from external influence, the document contains a provision prohibiting any transactions with foreign countries or companies registered outside of Missouri. This is done in order to keep full control over reserves exclusively in the hands of local authorities.

The bill review process is just beginning. He is currently on the Commerce Committee of the State House of Representatives. There will be hearings where everyone will be able to express their opinion. If the committee approves the bill, it will go to the House of Representatives for a vote, and then, if successful, it will go to the Senate. The final decision lies with Governor Mike Kehoe, who will be able to sign the document or veto it.