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Treasury authority to hold Bitcoin proposed; sponsors and crypto advocates urge guardrails
Summary
Sponsors of bills S.1967, S.2008 and companion House measures asked the Joint Committee on Revenue to authorize limited, custodial purchases of Bitcoin and regulated digital assets for the Commonwealth's reserves, proposing caps, custody standards and audit requirements while emphasizing diversification and inflation hedging.
A group of lawmakers and financial‑technology advocates asked the Joint Committee on Revenue to authorize limited investments in Bitcoin and other regulated digital assets as a tool to diversify the Commonwealth's reserves.
Senators and witnesses described bills including S.1967 and related measures (S.2008, H.3279/H.32‑79) that would permit the state treasurer to allocate a capped share of eligible, uncommitted funds—specifically referencing a limit of up to 10% of eligible funds or selected stabilization balances—into Bitcoin or regulated digital vehicles under strict…
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