Oklahoma Kills Bitcoin Reserve Proposal in Senate Committee Vote – Decrypt

The attempt to become one of the first US states to implement Oklahoma’s Bitcoin Reserve is approaching abrupt ending.

It’s tight 6-5 votes On Monday, the Senate Wages and Issues and Tax Committee collapsed. House Bill 1203also known as the Strategic Bitcoin Reserve Act, despite the momentum from the late period and the surprising reversal of votes from Sen. Christy Gillespie.

Gillespie, who had planned not to vote “until this afternoon,” changed her mind after “some members” reached out.

“The lawmakers have changed their voting for “no” to “yes” as they heard from Bitconner’s components! ” Tweet Dennis Porter, CEO and co-founder of Satoshi Action Fund, is urging supporters of the Bitcoin Reserve to maintain pressure on legislators. “Your voice matters!”

Still, there was a lack of effort in Oklahoma. “No” votes came from Republican Senators Todd Gorrihale, Chuck Hall, Brent Howard, Dave Radar, and Democrats Julia Kurt and Mark Mann.

Introduced by Rep. Cody Maynard in January, HB1203 allowed state accounts in Oklahoma to invest in Bitcoin and other eligible digital assets. Only at this time Bitcoin Meet that threshold.

Previous committees passed the bill in February. Wide 12–2 marginset up Monday’s high stakes showdown.

State Bitcoin Reservation Efforts

With Oklahoma out of the picture, New Hampshire, Texas and Arizona have emerged as top candidates for the race that became the first US state to establish a strategic Bitcoin Reserve.

It also marks the latest blow to such proposals, following recent rejections in Montana, North Dakota, Pennsylvania, South Dakota and Wyoming.

Meanwhile, on April 10th, the New Hampshire home passed through HB302. HB302 is a bill that allows 10% of the state’s general fund to be invested in Bitcoin and precious metals. The 192-179 vote will send the bill to the Senate for further consideration.

The Florida Home Insurance and Banking Committee passed unanimously on the same day as the New Hampshire vote. HB487which will allow you to invest up to 10% of your state’s funds in Bitcoin.

Meanwhile, Arizona continues to lead in terms of legislative momentum. On March 24, the state House Rules Committee approved two complementary bills. SB1373 and SB1025Arizona treasurer proposed investing public funds in Bitcoin.

The bill is currently awaiting a full floor vote in the House of Representatives. If they pass, the law heads to Gov. Katie Hobbs for final approval.

March 6th, Texas Senate I passed the SB-21after discussions on the Senator’s floor, the Bitcoin Strategy Preparation Bill of 25-5 votes.

At the moment, 26 states have introduced 47 Bitcoin Reserve (SBR) bills, and 40 active bills still live in 20 states in accordance with the reserve tracker Bitcoin Act. data.