Crypto News Today: Montana House Rejects Bitcoin Reserve Bill

Why Montana Lawmakers Voted Against the Bitcoin Reserve Bill

Montana Bitcoin Reserve Bill Rejected: What It Means for the Future of Crypto in the State

Montana House Votes Down Bitcoin Reserve Bill

Montana's House of Representatives voted against House Bill No. 429, which aimed to make Bitcoin part of the state’s reserves. On February 22, lawmakers voted 41-59 against the bill, raising concerns about the risks of using public money for such investments. Even though the bill had earlier support from the House Business and Labor Committee, it failed to pass the House floor vote. This decision quickly made its way into crypto news today.

Why Didn’t the Montana Bitcoin Bill Pass?

The Montana Bitcoin reserve bill didn’t pass mainly because lawmakers were worried about using taxpayer money for risky investments.
Representative Steven Kelly said, “It’s still taxpayer money, and we’re responsible for it,” pointing out the unstable nature of Bitcoin.
Some lawmakers also didn’t like that the bill would allow investments in things like NFTs. An amendment that tried to fund the bill with ARPA interest instead of the General Fund didn’t pass either. Lawmakers questioned if those funds could legally be used this way. This lack of clear oversight made many uncomfortable with moving forward.

What Was House Bill No. 429?

House Bill No. 429 was designed to let Montana invest in Bitcoin, stablecoins, and precious metals through a special revenue account. The idea was to help the state’s investments grow and possibly give more back to taxpayers. The bill focused mainly on Bitcoin since it’s the only cryptocurrency that meets the $750 billion market cap requirement. If passed, Montana would have joined other states like Utah, Arizona, and Texas, which are also looking at crypto reserves. This topic has been a trending one in crypto market news.

Could Montana Revisit This Bill in the Future?

Even though this version of the Montana Bitcoin bill is now dead, supporters hope a new version might come back with changes. If lawmakers can fix concerns around funding and oversight, they might try again in future sessions. Across the U.S., 24 states have thought about creating Bitcoin reserves, with Utah leading the way. Montana might still join them if the right plan comes together.

What Does This Mean for Crypto Laws in the U.S.?

Montana’s rejection adds another twist in the larger story of how states handle crypto laws. While many see digital assets as a chance to grow state funds, others worry about the risks. This debate is making waves in bitcoin news and keeping everyone wondering what happened in the crypto market today. One thing is clear: the conversation about state-level crypto investments is far from over.