More than two dozen states are now reviewing cryptocurrency reserve legislation
Lawmakers in Alabama and Minnesota are considering new bills that could allow their states to invest in Bitcoin, adding to a growing trend across the country. Both states introduced legislation on April 1, with Minnesota’s Bitcoin Act (HF 2946) and Alabama’s Senate Bill 283 and House Bill 482 seeking to establish cryptocurrency reserves at the state level.
ALABAMA Update:
A *second* Bitcoin Reserve bill was introduced today in the AL Senate: SB 283.
It is a companion bill to House Bill 482.
Meaning: the two identical bills have been introduced concurrently to expedite the legislative process. https://t.co/Kz75iFob9K pic.twitter.com/0MDthX6hVY
— Bitcoin Laws (@Bitcoin_Laws) April 2, 2025
Minnesota’s proposal, led by Republican Representative Bernie Perryman, follows a bill that state Senator Jeremy Miller introduced in March. If passed, it would allow the state’s investment board to allocate funds to Bitcoin and other cryptocurrencies. The bill also aims to exempt crypto-related gains from state income taxes and allow residents to pay state fees and taxes using Bitcoin. Additionally, state employees would have the ability to include digital assets in their retirement accounts.
Alabama’s bills take a different approach by not explicitly naming Bitcoin. Instead, they restrict the state’s potential crypto investment to assets with a market valuation of at least $750 billion. At present, Bitcoin is the only cryptocurrency that meets this requirement, effectively limiting the bill’s scope to the leading digital currency. Republican state Senator Will Barfoot and Representative Mike Shaw spearheaded the initiative, with support from a bipartisan group of lawmakers.
Across the US, 26 states have introduced similar Bitcoin reserve bills, aiming to integrate digital assets into state investment strategies. While some states have moved forward with legislative efforts, others, like Montana and Wyoming, have faced setbacks due to political opposition. Arizona remains one of the closest to passing such a measure.
The introduction of identical bills in Alabama and Minnesota is a strategic move to accelerate the legislative process. If successful, these proposals could further solidify Bitcoin’s role in state financial management, setting a precedent for broader adoption.
