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Maryland panel hears bill to let treasurer hold seized funds in Bitcoin
Summary
Supporters told the House Judiciary Committee HB1389 would let the state treasurer place certain seized or designated funds into a state Bitcoin reserve fund to pursue long-term appreciation; opponents warned of volatility, environmental harms and that existing law and practice should guide handling of seized assets.
Delegate Young introduced House Bill 13‑89, the Strategic Bitcoin Reserve Act, proposing creation of a Maryland Bitcoin Reserve Fund that would allow the state treasurer to invest specified funds in Bitcoin.
The bill’s sponsor said the measure aims to treat Bitcoin as a strategic reserve asset. "The purpose of the bill today is to establish the Maryland Bitcoin Reserve Fund as a strategic reserve asset," Delegate Young told the committee, adding later that he would amend language so the treasurer would have discretion rather than a duty to invest.
Why it matters: supporters said the…
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