Bitcoin and alternative currencies rejected by four U.S. states

Montana's bill aiming to invest government funds in Bitcoin has been rejected. Consequently, the state joined North Dakota, Wyoming, and Pennsylvania in rejecting BTC reserve proposals in the same manner.
In Montana, a bill aiming to invest public funds in Bitcoin was rejected in a vote in the state House of Representatives. With this decision, the state joins the ranks of states like North Dakota, Wyoming, and Pennsylvania that have not accepted proposals to add Bitcoin to their reserves.
At the beginning of this month, House Bill 429, introduced by Representative Curtis Schomer, aimed to establish a special account that could allocate up to $50 million for cryptocurrencies, stablecoins, and precious metals. Schomer noted that this step aims to diversify the state's assets and achieve higher returns compared to traditional bond investments.
In the vote held on Friday, the bill was rejected by a majority of 59 votes to 41. Although Bitcoin is the only digital asset that meets the criteria specified in the project, it faced strong opposition from parliament members.
As Bitcoin reserve support gains momentum in some states, those already in the field are moving faster than the federal government. According to Bitcoin reserve tracker data, Bitcoin reserve-related legislation projects are still under consideration in about 19 states, including Arizona, Illinois, Kentucky, Maryland, Oklahoma, New Hampshire, and Texas.
The current situation is as follows:
The 'Digital Innovation and Blockchain Amendments' bill proposed by Yuta includes a framework that allows the state treasury to allocate up to 5% of digital assets. The bill has not been finalized yet.
Arizona: The Senate Finance Committee approved a bill allowing up to 10% of public funds to be deposited in cryptocurrencies, including retirement systems, ( after additional referral to the Senate Rules Committee, and from there to the House.
Texas: The state discusses two separate bills. The first aims to allocate 1% of the general revenue fund to Bitcoin. The second covers Bitcoin donations and cryptocurrency payment transfers.
While some states in the United States continue to work on integrating cryptocurrency assets into public finance, countries such as Switzerland, Brazil, Japan, and Russia are also considering incorporating Bitcoin into their national reserve strategies.
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