{"id":20852,"date":"2025-02-03T10:49:49","date_gmt":"2025-02-03T08:49:49","guid":{"rendered":"https:\/\/forklog.com\/en\/utah-poised-to-lead-in-establishing-first-us-bitcoin-reserve-law\/"},"modified":"2025-02-03T10:49:49","modified_gmt":"2025-02-03T08:49:49","slug":"utah-poised-to-lead-in-establishing-first-us-bitcoin-reserve-law","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/utah-poised-to-lead-in-establishing-first-us-bitcoin-reserve-law\/","title":{"rendered":"Utah Poised to Lead in Establishing First US Bitcoin Reserve Law"},"content":{"rendered":"<p>Utah may become the first US state to approve a bill establishing a strategic reserve in the leading cryptocurrency (SBR). This prediction was made by Dennis Porter, CEO of Satoshi Action Fund.<\/p>\n<p><iframe loading=\"lazy\" width=\"1878\" height=\"740\" src=\"https:\/\/www.youtube.com\/embed\/ewfhF7m9xhg\" title=\"Senator Cynthia Lummis EXCLUSIVE U.S. Strategic Bitcoin Reserve Update\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>The expert attributed this assessment to a shorter 45-day window for passing bills.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Other [states] do not have such a &#8216;fast&#8217; calendar, political momentum, and will,&#8221;<\/em> he noted.<\/p>\n<\/blockquote>\n<p>In Arizona, the bill to form an SBR was the first among states to pass discussion in the relevant committee. The document will soon be put to a Senate vote. Utah&#8217;s upper chamber of Congress followed suit, with the bill also leaving the committee.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The states will lead. ?? <a href=\"https:\/\/t.co\/K8X7AL7OnX\">pic.twitter.com\/K8X7AL7OnX<\/a><\/p>\n<p>\u2014 Dennis Porter (@Dennis_Porter_) <a href=\"https:\/\/twitter.com\/Dennis_Porter_\/status\/1885755845998436740?ref_src=twsrc%5Etfw\">February 1, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Illinois, Ohio, Massachusetts, New Hampshire, North Dakota, Oklahoma, Pennsylvania, Texas, and Wyoming have introduced documents to create a reserve in digital gold.<\/p>\n<p>Representatives from Alabama, Florida, Kentucky, and South Dakota have so far limited their actions to publicly supporting the SBR idea.<\/p>\n<p>According to Porter, all bills passed by the Utah House of Representatives&#8217; Economic Development Committee in recent years have been enacted into law.<\/p>\n<p>In a conversation with the CEO of Satoshi Action Fund, Senator Cynthia Lummis reported progress on her initiative to<a href=\"https:\/\/u1f987.com\/en\/news\/senator-cynthia-lummis-proposes-bill-for-us-bitcoin-reserves\"> establish an SBR at the federal level<\/a>. She added that at least 60 votes are needed in the Senate for bipartisan support.<\/p>\n<p>Earlier, VanEck calculated that establishing a strategic bitcoin reserve could help the US by 2050<a href=\"https:\/\/u1f987.com\/en\/news\/vaneck-assesses-bitcoin-reserves-impact-on-us-national-debt\"> reduce national debt by 35%<\/a>.<\/p>\n<p>Analysts at Fidelity Digital Assets <a href=\"https:\/\/u1f987.com\/en\/news\/fidelity-says-national-adoption-of-bitcoin-will-spur-crypto-markets-in-2025\">believe<\/a> that the adoption of the first cryptocurrency at the national level in 2025 will serve as a powerful driver for the digital asset.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Utah may become the first US state to approve a bill establishing a strategic reserve in the leading cryptocurrency (SBR). This prediction was made by Dennis Porter, CEO of Satoshi Action Fund. The expert attributed this assessment to a shorter 45-day window for passing bills. &#8220;Other [states] do not have such a &#8216;fast&#8217; calendar, political [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20851,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1641,36,26],"class_list":["post-20852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-reserves","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"55","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=20852"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20852\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/20851"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=20852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=20852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=20852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}