Satoshi Action Fund CEO Dennis Porter said, “California often sets the national blueprint for policy, and if Bitcoin Rights passes here, it can pass anywhere.” According to Porter, this legislation will grant nearly 39.4 million residents the right to self-custody their digital assets.

Key Regulations and Restrictions

The bill recognizes digital assets as a valid form of payment in private transactions, prohibiting public entities from imposing additional taxes or restrictions based on their use. Additionally, the bill expands the 1974 Political Reform Act, preventing public officials from engaging in conflict-of-interest transactions involving digital assets.

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The bill is currently in the “desk process” and awaiting its first reading.

Bitcoin’s Presence in California and Other Regulations

According to BTC Maps data, over 99 businesses in California currently accept Bitcoin payments. Ripple Labs, Solana Labs, and Kraken are among the major crypto firms based in the state.

Additionally, a stablecoin regulation bill was introduced on February 2, 2025, aiming to clarify stablecoin collateral requirements, liquidation processes, and security audits.

Across the United States, 95 Bitcoin-related bills have been introduced at the state level. On March 6, the Texas Senate passed a Bitcoin strategic reserve bill in a 25-5 vote. Kentucky Governor Andy Beshear signed the Bitcoin Rights Act into law on March 24.

Earlier this month, U.S. President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve and Digital Asset Stockpile, utilizing cryptocurrency confiscated in government criminal cases.

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According to the bill, the Missouri treasurer would be authorized to receive, invest, and hold Bitcoin under specific conditions.

State Payments to Accept Bitcoin

The bill also mandates that all government entities in Missouri accept cryptocurrency for approved uses, including taxes, fees, fines, and other eligible payments. However, transaction fees would be covered by the payees.

Bitcoin HODL Strategy

Keathley’s proposal requires that the state hold all Bitcoin collected for at least five years before making any transactions. This indicates a long-term investment strategy for Missouri.

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If passed, the bill would give the Missouri treasurer the authority to invest in, purchase, and hold Bitcoin using state funds. The proposed effective date for the bill is August 28, subject to further discussions.

Other States Are Also Moving Towards Bitcoin Reserves!

Missouri’s proposal follows similar initiatives in other states. Utah, through House Bill 230, has advanced legislation allowing up to 5% of state public funds to be allocated to Bitcoin, major cryptocurrencies, and stablecoins.

As of February 7, 17 out of 50 U.S. states have begun discussions on establishing Bitcoin strategic reserves.

Utah has made the most progress so far, with Arizona, Kentucky, New Hampshire, North Dakota, Wyoming, and South Dakota also considering similar measures.

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