Emre Yumlu 
Alabama is introducing a bill that would allow the state investment board to invest in BTC and crypto! What’s the latest?
Alabama Passes Bill Authorizing Investment in Bitcoin and Other Cryptocurrencies
The state of Alabama has introduced a bill that grants the state’s investment committee the authority to allocate funds to Bitcoin and other cryptocurrencies. This development follows Alabama Senator Tommy Tuberville’s announcement on April 1 that he plans to reintroduce the Financial Freedom Act. The proposed law aims to allow Americans to include cryptocurrencies in their 401(k) retirement savings plans, marking Tuberville’s third attempt after his efforts in 2022 and 2023.
Minnesota and Alabama Steadfast on Bitcoin Reserves
Minnesota and Alabama are swiftly moving forward with legislative proposals for state Bitcoin reserves. In Minnesota, House File 2946, introduced by Representative B. Olson (R-MN), would allow the state to invest directly in Bitcoin. In Alabama, Senate Bill 283, proposed by Senator April Weaver (R-AL), specifies that only digital assets with a market value of $750 billion or more would be accepted, a threshold currently met only by Bitcoin.
The Minnesota proposal includes provisions for the state to accept Bitcoin for tax payments and state transactions. Both the Minnesota and Alabama bills would enable the state to invest Bitcoin into government funds and hold digital assets directly through a qualified custodian or exchange product.
These legal efforts reflect the growing acceptance of Bitcoin as a strategic reserve asset in several U.S. states. While some states have stepped back from such plans, others are still moving forward. There are 41 active Bitcoin reserve proposals across 47 states, though there is a prevailing negative sentiment around the passing of such reserves.
These developments could pave the way for Bitcoin to be recognized as a financial asset at the state level, although there remains a generally pessimistic outlook regarding the widespread adoption of Bitcoin reserves.
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