- Missouri advances House Bill 2080 to create a Bitcoin strategic reserve within the state treasury.
- The bill allows the state treasurer to buy, hold and manage Bitcoin using public funds.
- Lawmakers revive the Bitcoin reserve plan after a similar proposal failed last year.
On February 19, the Missouri lawmakers referred House Bill 2080 to the House Commerce Committee. The bill would establish a Bitcoin strategic reserve at the state treasury. The proposal was reintroduced in the legislature following the failure of a similar one last year. The measure passes to the second stage of review.
The committee will hold a public hearing and review the bill in detail. Members can propose changes prior to voting. Provided that the measure is passed by the committee, it will be debated by the whole House. Legislators will then vote whether to proceed on it or not.
Bill Proposes State-Managed Bitcoin Reserve
Representative Ben Keathley introduced House Bill 2080 in January. The bill allows the state treasurer to buy and hold cryptocurrency with state funds. It also permits the treasurer to purchase Bitcoin directly for the reserve. In addition, the treasurer may accept gifts and grants to support the fund.
The bill limits donations to Missouri residents and government entities. It blocks transactions that involve foreign governments or entities outside the state. The treasurer must hold any Bitcoin for at least five years. After that period, the state may sell, transfer, or convert the holdings.
The measure also requires the treasurer to publish a report every two years. The report must detail fund activity and reserve management. Lawmakers included this rule to promote transparency. They also set clear standards for custody and oversight.
Expanded Use of Crypto for State Payments
The proposal also addresses digital payments. It permits the state agencies to accept cryptocurrencies in the form of taxes, fees and fines. But first every asset has to be approved by the Department of Revenue. Agencies cannot accept digital assets without that approval.
This section expands the bill beyond reserve creation. It brings cryptocurrency into regular state transactions. Lawmakers aim to modernize payment systems while keeping control. Committee members will review safeguards during the hearing process.
Second Attempt After Earlier Failure
Keathley introduced a similar bill last February under House Bill 1217. That measure also sought to establish a Bitcoin reserve. A hearing was conducted by the House Special Committee on Intergovernmental Affairs. Nevertheless, the committee did not proceed with the bill.
Consequently, the previous proposal did not get to the House floor. Before the session was over, lawmakers did not vote on it. The new bill now follows a different committee route. Supporters hope this attempt gains more support.
Missouri joins other states exploring Bitcoin reserves. Kansas and Florida have advanced similar proposals. Arizona, Texas, and New Hampshire have passed related laws. Meanwhile, the federal government established a national Bitcoin reserve in 2025.
