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Lawmakers briefed on blockchain, Bitcoin reserve proposals and local industry efforts
Summary
National and state advocates told legislators about digital‑asset policy trends, potential state 'strategic Bitcoin reserve' approaches and Utah’s private‑public blockchain work, including local projects and laws to support tokenization, verifiable credentials and noncustodial services.
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…
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