YEREVAN (CoinChapter.com) — Montana lawmakers have moved a Bitcoin reserve bill forward, making it the fourth U.S. state to reach this stage. The House Business and Labor Committee approved House Bill No. 429 with a 12-8 vote on Feb. 19. All Republicans voted in favor, while all Democrats opposed the measure.
The bill would create a special revenue account allowing investments in Bitcoin, stablecoins, and precious metals. To qualify, digital assets must have had a market cap above $750 billion over the last calendar year. Bitcoin is currently the only cryptocurrency that meets this requirement.
Montana House Bill No. 429: Bitcoin and Digital Asset Reserve Legislation Moves Forward. Source: Montana LegislatureMontana Joins Other States in Bitcoin Reserve Efforts
Montana now joins Utah, Arizona, and Oklahoma in advancing a Bitcoin reserve bill to the House. Among these states, Utah has made the most progress, being the only one where such a bill has passed the House.
Montana’s Strategic Bitcoin Reserve Bill Moves to House Floor Vote Under Rep. Schomer’s Leadership. Source: Satoshi Action FundOther states, including Illinois, Kentucky, Maryland, New Hampshire, New Mexico, North Dakota, Ohio, Pennsylvania, South Dakota, and Texas, have introduced similar bills. However, none have reached Montana’s current stage in the process.
Montana House Bill 429 Passes Committee Vote, Moves Forward in Bitcoin Reserve Legislation. Source: Bitcoin LawsAmendments Remove Custodian Requirement
The bill also originally required that funds be held by a qualified custodian or an exchange-traded fund (ETF). This requirement was removed in amendments before the committee vote.
If passed, the law would take effect on July 1. By July 15, the state treasurer could transfer up to $50 million to the special revenue account for Bitcoin, stablecoins, and precious metals investments.
Federal Bitcoin Reserve Bill Efforts Continue
At the federal level, U.S. Senator Cynthia Lummis is still working on a Bitcoin reserve bill, but it has not yet moved forward.
In addition, with Montana’s Bitcoin bill progressing, more states may introduce or advance similar legislation. The next step is a full vote in the Montana House.
Utah has made the most regulatory progress, being the only state to have a Bitcoin reserve bill passed through the House. The Strategic Bitcoin Reserve Bill (HB230) cleared the Utah House of Representatives on February 6, 2025, making it the furthest-advanced state-level Bitcoin reserve bill in the U.S.
Introduced by Representative Jordan Teuscher on Jan. 21, 2025, the bill allows the state treasurer to allocate up to 5% of certain public funds into Bitcoin and other high-market-cap digital assets. Above all, lawmakers supporting the bill argue that adding Bitcoin to the state’s investment portfolio could serve as a hedge against inflation and financial instability.
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