Missouri Legislature Proposes Cryptocurrency Reserve Fund

Missouri is taking steps to formalize its involvement in the cryptocurrency market through House Bill 2080. The legislation proposes the creation of a Bitcoin Strategic Reserve Fund, which would be managed by the State Treasurer.

The fund would accept donations from verified Missouri residents, with a requirement for cold storage custody of the donated Bitcoins. Private keys would need to be stored offline in physically secure settings for at least five years.

The bill also mandates biennial public reports on the total amount of Bitcoin reserves, custody arrangements, and security measures. The State Treasurer would be responsible for providing these reports and submitting them to audits to ensure compliance with state and federal regulations.