- HB 2080 advances to the House Commerce Committee for further legislative review.
- Bill allows the Missouri treasurer to receive and hold Bitcoin reserves.
- All Bitcoin must be stored securely for at least five years.
Missouri is once again stepping into the Bitcoin debate, and this time the proposal is moving forward.
House Bill 2080, which would create a state-run Bitcoin Strategic Reserve Fund, has advanced to the House Commerce Committee. If enacted, the bill would authorize the State Treasurer to receive, invest, and hold Bitcoin on behalf of the state.
A State-Managed Bitcoin Reserve
Under the proposal introduced in Missouri’s 103rd General Assembly by Representative Keathley, new sections would be added to Chapter 30 of the Revised Statutes of Missouri.
The bill defines Bitcoin as a decentralized digital asset created by a peer-to-peer network that operates without a central authority or banks.
At the center of the plan is the creation of the “Bitcoin Strategic Reserve Fund” within the state treasury. The State Treasurer would serve as custodian of the fund and would manage all Bitcoin assets held in it.
How the Fund Would Work
The State Treasurer would be authorized to invest money in the fund in the same manner as other state funds. Any interest or earnings generated would be credited back to the reserve.
The bill allows the treasurer to accept gifts, grants, donations, bequests, or devises of Bitcoin from eligible Missouri residents or governmental entities. However, all Bitcoin collected must be held for a minimum of five years from the date it enters state custody.
Only after that mandatory holding period could the Bitcoin be transferred, sold, appropriated, or converted into another cryptocurrency at the treasurer’s direction.
The legislation also gives the treasurer authority to invest, purchase, and hold cryptocurrency using state funds, expanding the scope beyond donated assets.
Security and Oversight Measures
Security is a major focus of the proposal. The treasurer would be required to develop policies and protocols to protect the reserve. The bill explicitly prohibits transactions involving foreign countries, individuals, or entities outside of Missouri, or those known to engage in illegal activities.
In addition, the treasurer must publish a biennial report before December 31 of each even-numbered year. The report would detail:
• The total amount of Bitcoin held
• The equivalent value of the fund in U.S. dollars
• Growth since the previous report
• Any transactions or expenditures
• Any security threats encountered
• The amount of Bitcoin eligible for conversion after the five-year holding period
Crypto Payments for Government Fees
One of the more sweeping provisions appears in section 30.1030. It states that all governmental entities must accept cryptocurrency, as approved by the Department of Revenue, for payments such as taxes, fees, fines, assessments, and other expenses owed to the government.
Entities may set certain requirements, but the mandate signals a broader push toward integrating digital assets into public finance.
Related: Arizona S.B. 1649 Fact Sheet Highlights Crypto Plan
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Source: https://coinedition.com/missouri-advances-bitcoin-strategic-reserve-bill-hb-2080/
