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Utah’s Bitcoin bill has passed the state Senate, but without its cornerstone, a clause that would have made it the first US state with its own Bitcoin reserve. The HB230 “Blockchain and Digital Innovation Amendments” bill now only provides Utah citizens with basic custody protections, the right to mine Bitcoin BTC $82,942 , run a node and participate in staking, among other things. The 19-7-3 vote to pass the measure on March 7 means the bill is now headed to Utah Governor Spencer Cox’s desk to be signed into law. The reserve clause would have authorized Utah’s treasurer to invest up to 5% of digital assets with a market cap above $500 billion over the last calendar year in five state accounts — with Bitcoin as the only digital asset that currently meets this criteria. The reserve clause passed the second reading but was scrapped in the third and final reading. Utah’s House then concurred with the amendment in a 52-19-4 vote.
