Kentucky Bitcoin Bill Pushes $5 Billion State Fund Toward Crypto
Key Points: Kentucky lawmakers propose a 10% investment of state funds in digital assets. The focus is on assets with a market cap over $750 billion. Central bank digital currencies are excluded to simplify regulatory issues. Kentucky Bitcoin Bill Eyes Bold Move Into $750B Crypto MarketKentucky lawmakers have proposed Bill HB376, aiming to allocate 10% of state funds into digital assets with a market value exceeding $750 billion, such as Bitcoin. The bill empowers the State Investment Commission to oversee these investments and prohibits engagement with central bank digital currencies. The State Treasurer will manage these digital assets, ensuring compliance with regulatory guidelines and enhancing fund security. Explore the bill’s potential impact on Kentucky’s financial strategies for further insights. Kentucky Bitcoin Bill Proposes 10% State Fund Allocation The key provisions of Bill HB376 by Kentucky State Representative TJ Roberts focus on significant investment in digital assets, proposing a 10% allocation of state funds into Bitcoin and other assets with a market cap of over $750 billion. Federal Spending in Kentucky (2025 Overview), totalling $46.9 billion. Source: usaspending.goAs shown by usaspending.go, federal spending in Kentucky projected to reach $46.89 billion in 2025, the proposed 10% allocation would amount to approximately $5 billion in digital asset investments. If enacted, HB376 could position Kentucky as a leader in state-level Bitcoin adoption, potentially influencing more general financial policies nationwide. The bill empowers the State Investment Commission to oversee these investments and prohibits central bank digital currency investments. Additionally, HB376 enables state agencies to accept digital assets and bullion for payments, enhancing tax collection and financial transactions through these methods. Rep. TJ Roberts Pushes Bitcoin Adoption in State Investments Rep. T.J. Roberts Sitting At The Office. Source: ket.orgRep. TJ Roberts’ Bill HB376 proposes investment opportunities in digital assets like Bitcoin for Kentucky’s state funds. It permits state retirement funds and deferred compensation participants to invest in exchange-traded products and allows state agencies to accept digital assets and bullion as payments while banning central bank digital currencies. This bill aims to expand the state’s investment portfolio with specific constraints to ensure compliance with regulatory guidelines, addressing potential financial and regulatory risks associated with certain digital currencies. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.