Missouri lawmakers have advanced a bill that could allow the state treasurer to invest in and hold Bitcoin. House Bill 2080, now before the House Commerce Committee, proposes enabling the treasurer to use state funds to purchase and store cryptocurrency for up to five years. The bill also suggests allowing government entities to accept cryptocurrency for taxes, fees, and fines, provided it is approved by the Department of Revenue.
This legislative move follows a similar proposal from last year, House Bill 1217, which did not advance out of committee. If House Bill 2080 passes the House, it will proceed to the Senate and then to the Governor's desk. Experts suggest that state-level Bitcoin reserves could generate billions in demand for the cryptocurrency.