Wu said that the 103rd Missouri General Assembly has introduced House Bill 2080 (sponsored by Representative Keathley) to establish a "Bitcoin Strategic Reserve Fund" under Chapter 30 of RSMo. The core provisions are: managed by the State Treasurer, funded by resident donations or bequests of Bitcoin; stored securely for at least 5 years, with the ability to transfer, sell, or exchange for other cryptocurrencies; Bitcoin must be stored securely, prohibiting involvement with foreign, national entities, or illegal activities; cooperation with domestic third-party crypto institutions is permitted; a report on holdings and security will be published every two years; a simple donation process and an honors program will be provided; the Treasurer may invest in or hold cryptocurrencies using state funds; government agencies must accept cryptocurrency payments approved by the Tax Authority. The bill has not yet been passed; the specific effective date and details are subject to final legislation.
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Wu said that the 103rd Missouri General Assembly has introduced House Bill 2080 (sponsored by Representative Keathley) to establish a "Bitcoin Strategic Reserve Fund" under Chapter 30 of RSMo. The core provisions are: managed by the State Treasurer, funded by resident donations or bequests of Bitcoin; stored securely for at least 5 years, with the ability to transfer, sell, or exchange for other cryptocurrencies; Bitcoin must be stored securely, prohibiting involvement with foreign, national entities, or illegal activities; cooperation with domestic third-party crypto institutions is permitted; a report on holdings and security will be published every two years; a simple donation process and an honors program will be provided; the Treasurer may invest in or hold cryptocurrencies using state funds; government agencies must accept cryptocurrency payments approved by the Tax Authority. The bill has not yet been passed; the specific effective date and details are subject to final legislation.