Sonny S. Watts YEREVAN (CoinChapter.com) — On March 24, the governor of Kentucky signed the Blockchain Digital Asset Act (HB701) into law. The state Senate passed it with a 37-0 vote.
The new law protects residents’ right to self-custody Bitcoin. It also supports crypto mining laws, offering a legal framework for mining activities.
Kentucky holds 10.9% of the US Bitcoin hashrate. The state uses coal and hydropower to support its energy supply. These resources make it attractive for mining companies. The law aims to strengthen Kentucky’s position in the Bitcoin mining sector.
North Carolina Digital Assets Bills Target Public Funds
North Carolina introduced three bills in the past week. These bills aim to include digital assets in the state’s public fund strategy.
On March 24, House Bill 506 was introduced. It allows up to 5% of public funds to be invested in digital assets. On March 26, the Senate received Senate Bill 709, with the same 5% allocation proposal.
House Bill 92 goes further, proposing a 10% allocation of public funds for a strategic reserve in digital assets. These bills would change how North Carolina manages public funds and may increase interest in Bitcoin reserve bills.
Arizona Bitcoin Reserve Moves Ahead in Committees
The Arizona House Rules Committee approved two bills: SB1373 and SB1025. Both focus on Bitcoin reserve bills and public fund investments.
SB1373 proposes a digital asset reserve built with assets seized in criminal cases. Arizona’s state treasurer may invest up to 10% of this reserve each year. The bill also allows lending digital assets to bring in revenue.
SB1025 allows the state treasury and pension system to invest up to 10% in Bitcoin. If a federal Bitcoin reserve exists, Arizona’s holdings may be kept in a separate account within that system.
Oklahoma Bitcoin Fund Proposal Passes in the House
The Oklahoma House passed the Strategic Bitcoin Reserve Bill (HB1203) last week. This bill allows the state treasurer to invest in Bitcoin, stablecoins, and other large-market cryptocurrencies.
The bill applies to funds including the State General Fund, Revenue Stabilization Fund, and Constitutional Reserve Fund. Assets must have a market cap over $500 billion. This includes only the largest and most stable cryptocurrencies.
Oklahoma joins other states exploring Bitcoin reserve bills as part of long-term public fund strategy.
23 US States Have Introduced Bitcoin Reserve Bills
According to Bitcoin Law, 23 out of 50 US states have now introduced Bitcoin reserve bills. These bills mostly focus on investments from state treasuries and pensions.
Matthew Sigel, Head of Digital Assets Research at VanEck, reviewed 20 state-level bills. His analysis showed they could trigger $23 billion in Bitcoin buying, equal to around 247,000 BTC. This figure does not include any future pension fund investments.
On March 7, the Trump administration announced the creation of a Federal Strategic Bitcoin Reserve. Following that, several states accelerated efforts to pass crypto mining laws and create Bitcoin public fund structures.
