Utah Moves Toward Crypto Adoption with Bill Allowing Public Fund Investments
Utah’s House Committee on Economic Development approved H.B. 230, allowing state treasurers to invest up to 5% of public funds in digital assets with a market cap over $50 billion.
The bill, passed by an 8-1 vote, sets guidelines for asset custody, management, and compliance. If approved by the Senate and signed by Governor Spencer Cox, Utah will become the first state to pass such legislation. Representative Jordan Teuscher celebrated the milestone, highlighting Utah’s leadership in blockchain and digital innovation.
Clever Robot News Desk 31th January 2025
