Dennis Porter, CEO and cofounder of Satoshi Action Fund, and Amelia Powers Gardner, cofounder of the Utah Blockchain Coalition and Utah County commissioner, addressed the Economic Development and Workforce Services Interim Committee on blockchain, Bitcoin and digital‑asset policies.

Porter, representing a nonprofit advocacy group focused on Bitcoin and digital assets, described Bitcoin as a “store of value” with a fixed supply of 21 million coins and emphasized decentralization as a feature that protects the asset from capture by powerful actors. Porter summarized policy trends at state and federal levels, including “strategic Bitcoin reserve” proposals that would allow state treasuries to allocate a portion of funds into Bitcoin. He said three states passed such policies in 2025 (New Hampshire, Arizona and Texas) and that Texas had allocated $10 million to a reserve. Porter described several funding approaches discussed by states, including using unclaimed digital assets or cryptocurrency seized in criminal forfeiture.

Porter also briefed the committee on national legislative efforts about market structure and regulation of digital assets, and he urged lawmakers to watch competing federal bills — including the Clarity Act in the House and a Senate banking draft — that could shape state regulatory options. He noted the passage of a federal stablecoin framework that still allows states to create their own limited stablecoin programs.

Amelia Powers Gardner presented Utah County and state efforts to apply blockchain beyond cryptocurrencies, including tokenization of records, verifiable digital credentials (the county issues verifiable marriage certificates), anti‑ransomware uses of distributed ledgers, and digital property rights. She said Utah has enacted more than a dozen pro‑blockchain bills since 2021, including laws creating a DAO legal framework, provisions allowing tax payments in crypto (with immediate conversion to dollars per current state statute), a non‑money‑changer registry for certain wallet providers, and a regulatory sandbox to let innovators test new approaches. Gardner urged the state to publicize its work to attract builders, capital and talent and suggested targeted next steps for the 2026 session, including addressing government custody of confiscated digital assets and unclaimed digital property laws so treasurers can manage abandoned digital assets.

Committee members asked about funding sources for a possible state Bitcoin reserve and Porter said budget‑neutral approaches are common, such as using forfeited crypto or unclaimed property funds (Arizona adopted such an approach). Gardner urged government preference for local blockchain providers when government adopts distributed‑ledger solutions and repeated that Utah should advertise its legislative clarity to attract industry.

Ending: Both presenters told legislators Utah is positioned to lead in blockchain adoption but urged clarity on custody, unclaimed property and interoperability so public agencies and industry can scale responsible projects.