Lawmakers in Kentucky and South Dakota are preparing to introduce legislation to establish a Bitcoin (BTC) reserve in the next few weeks, according to statements made on Jan. 28.
South Dakota Representative Logan Manhart announced that he will introduce a bill in the South Dakota House to create a strategic Bitcoin reserve. He added that this is “one of the few chances” the government has at being proactive.
Meanwhile, Kentucky Representative TJ Roberts said he will propose a similar legislation in the first week of his return to the General Assembly.
Several states have introduced similar legislation in an effort to front-run the federal government, which is now looking at the feasibility of a crypto reserve after President Donald ***** signed an executive order to do so on Jan. 23.
Wyoming and Massachusetts are the latest among eight states that have introduced Bitcoin-related legislation since December 2024.
Just the beginning
Dennis Porter, CEO and co-founder of the Satoshi Action Fund revealed on Jan. 27 that the Bitcoin reserve bill introduced in Arizona by Senator Wendy Rogers and Representative Jeff Weninger was the first to pass out of committee and go for a floor vote in the Senate.
the information on Jan. 27.
Meanwhile, Representatives Mike Cabell, Giovanni Capriglione, and Derek Merrin introduced plans for state investments in Bitcoin in Pennsylvania, Texas, and Ohio, respectively, in December 2024.
Additionally, New Hampshire and North Dakota enacted similar moves earlier this month.
If Kentucky and South Dakota lawmakers fulfill their promises, the number of states in the US with legislation regarding a Bitcoin reserve will increase to 14. This would close the gap shared by Porter on Jan. 17, consisting of introducing Bitcoin reserve bills in 15 different US states.
However, the Satoshi Action Fund published a statement on Jan. 27 that the filings are just “the beginning of the journey.”
The firm added:
“To truly make an impact, we must focus on advancing and enacting strategic Bitcoin reserve legislation into law, turning these proposals into actionable policies that will shape a stronger, more resilient financial future for ALL Americans.”
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