Important takeaways
- Wyoming lawmakers are proposing a bill that would allow state funds to be invested in Bitcoin, up to a limit of 3% per fund.
- The bill requires strict security measures for Bitcoin storage and requires the state treasurer to report annually on investment performance.
The Wyoming legislature has enacted “House bill 0201” or “HB0201,” a bill that would allow the state treasurer to invest up to 3% of qualified state funds — including the general fund, the permanent mineral fund, and the permanent land fund — in Bitcoin.
Under the proposed legislation, Bitcoin investments can be made through outright purchases or through investments in regulated Bitcoin ETPs issued by registered investment companies.
To ensure transparency and accountability, the state treasurer would be required to submit annual reports detailing Bitcoin investments. performance, custody arrangements, market values and any payments received in Bitcoin. The bill also gives the treasurer the authority to create necessary implementing regulations.
Wyoming’s initiative follows the state’s wider print in blockchain technology and digital assets, as lawmakers explore crypto as an investment option for public funds.
Wyoming’s latest move joins a growing national trend of states exploring crypto investments. It joins six other states — Oklahoma, Texas, Ohio, Pennsylvania, New Hampshire and North Dakota — in actively considering it the establishment of strategic Bitcoin reserves.
The bill will enter into force immediately after all necessary legislative processes have been completed. It will now go through the Wyoming Legislature where it will be debated and voted on.
