Montana is one of a handful of states that is moving forward with crypto regulations
A Montana House committee has moved forward with a bill that could allow Bitcoin and other digital assets to be used as reserve assets by the state. House Bill No. 429 passed through the Business and Labor Committee with a 12-8 vote held yesterday, with support coming exclusively from Republican lawmakers, while Democrats opposed the measure.
BREAKING: ‘Strategic Bitcoin Reserve’ legislation in Montana passes out of committee and moves onto a House floor vote – Thank you to the leadership of Rep. Schomer who sponsored the bill. pic.twitter.com/2qwiFOliNR
— Satoshi Action Fund (@SatoshiActFund) February 19, 2025
This legislation, now set to be reviewed by the full Montana House, would establish a special revenue account dedicated to investments in digital assets, stablecoins, and precious metals. However, for a cryptocurrency to be included, it must have had an average market capitalization exceeding $750 billion over the previous calendar year. At present, Bitcoin is the only digital asset meeting this requirement.
Montana joins a small group of states, including Utah, Arizona, and Oklahoma, that have brought similar Bitcoin reserve proposals to a House vote. If approved, the bill would take effect on July 1, granting the state treasurer the authority to allocate up to $50 million into the designated investment account by mid-July. A recent amendment removed a provision requiring these funds to be held by a qualified custodian or through an exchange-traded fund.
Several other states, including Illinois, Kentucky, Texas, and Ohio, have introduced comparable measures, but none have progressed as far as Utah, which remains the only state to pass a Bitcoin reserve bill through its House. Some experts, including Satoshi Action Fund CEO Dennis Porter, believe Utah could be the first to implement such a law due to its legislative efficiency and political support.
Meanwhile, at the federal level, Senator Cynthia Lummis continues efforts to push for a nationwide Bitcoin reserve policy, though progress remains slow. Montana’s latest move signals growing interest among states in exploring digital assets as part of their financial strategies.
