Utah lawmakers just passed a Bitcoin bill, but not in the way many had hoped. The original proposal included a groundbreaking provision that would have made Utah the first U.S. state to hold a Bitcoin reserve. That part? Completely removed before the final vote.
What’s Left in the Bill?
Even without the Bitcoin reserve, the bill still offers key protections for Utah residents. Citizens will have the right to mine Bitcoin, run nodes, and participate in staking without interference. The bill also strengthens custody protections, giving people more control over their digital assets.
Why Was the Reserve Cut?
The idea of Utah holding Bitcoin on its balance sheet proved too controversial. Senator Kirk A. Cullimore explained that there were concerns about “early adoption of these types of policies.” In the end, lawmakers scrapped the reserve clause entirely before the bill’s final passage.
What Could Happen Next in Other States?
With Utah backing out, other states may take the lead. Arizona and Texas have their own Bitcoin reserve bills in the works, and both are moving closer to final votes. Moreover, several other states are also considering similar legislation. Meanwhile, on a federal level, President Donald Trump just signed an executive order establishing a Strategic Bitcoin Reserve—though this reserve will only hold Bitcoin seized from criminal cases.
Utah may have passed a Bitcoin-friendly law, but the dream of a state-backed Bitcoin reserve is now someone else’s to claim. At the time of writing, Bitcoin is sitting at $82,327.47.
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