Kansas bitcoin reserve bill advances to Senate financial institutions committee

Kansas Senate Bill 352, introduced by Senator Craig Bowser, has been referred to the Senate Financial Institutions and Insurance Committee. This bill proposes establishing a "bitcoin and digital assets reserve fund" within the state treasury, uniquely funded only by airdrops and staking rewards generated from digital assets deemed abandoned under state law. The proposed amendments shorten the abandonment timeline for digital assets to three years after undeliverable communication, compared to five years for standard deposits, if the owner shows no activity. Once assets are unclaimed after three years in state custody, rewards go to the reserve, though 10% of other digital asset deposits will credit the general fund. Expenditures from the reserve require separate legislative appropriation. This move aligns Kansas with other U.S. jurisdictions like New Hampshire, Texas, and Arizona that are formalizing bitcoin treatment in public finance. Separately, Senator Bowser introduced a bill to regulate cryptocurrency as a campaign contribution.

(Source：The Block)