South Dakota Lawmaker Takes Another Run at Bitcoin Reserve Bill

South Dakota State Representative Taffy Howard (R) has once again introduced legislation that would permit the state to hold Bitcoin (BTC) as an official treasury reserve asset. The proposed bill, filed for the current legislative session, aims to authorize the State Treasurer’s office to purchase and manage digital assets as a diversification strategy against traditional inflation and economic uncertainty. This marks the second consecutive year Rep. Howard has pursued this measure, following the failure of a similar proposal to advance out of committee during the 2023 session. Proponents of the bill argue that holding Bitcoin provides essential exposure to future financial technologies and serves as a prudent hedge. The legislation faces scrutiny regarding the volatility of cryptocurrencies and the technical challenges associated with custodial management of public funds invested in digital assets, ensuring another potentially intense debate in the legislative committee stage.

Source: South Dakota lawmaker takes another run at Bitcoin reserve bill