South Dakota lawmaker revives bitcoin reserve push with new bill
A South Dakota lawmaker introduced a bill to allow the state to invest up to 10% of public funds in Bitcoin.Summary
Republican Representative Logan Manhart has introduced South Dakota House Bill 1155, which aims to amend public investment statutes to permit the State Investment Council to allocate up to 10% of eligible state funds in Bitcoin (BTC). Investments could be made through direct holdings, qualified custodians, or regulated exchange-traded products. The bill also specifies strict custody and security requirements, including private-key control, hardware storage, and regular audits. This effort revives a similar proposal from the previous legislative session that failed to pass due to timing. This move occurs as other states like Kansas and Florida explore similar initiatives, following Arizona, Texas, and New Hampshire which have already passed crypto reserve legislation.
(Source：The Block)