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Utah Plans to Invest Public Funds in Crypto Under New Proposed Law
Utah Plans to Invest Public Funds in Crypto Under New Proposed Law
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Utah is considering a groundbreaking bill, H.B. 230, introduced by State Representative Jordan Teuscher, which would allow the state treasurer to invest public funds in digital assets such as cryptocurrencies, stablecoins, and NFTs. The bill sets criteria for these investments, including market capitalization thresholds and regulatory approvals. It permits up to 10% of public funds to be invested in qualifying digital assets, defined as those with a market cap exceeding $500 billion over the previous 12 months or any stablecoin. This move aims to create a comprehensive framework for digital asset investment while ensuring regulatory oversight and fiscal responsibility.
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