Massachusetts Bitcoin Reserve Bill Hearing Receives Lukewarm Response

Jinse Finance reported that Massachusetts Senator Peter Durant presented his proposed "Bitcoin Strategic Reserve Bill" at a legislative hearing on Tuesday, but no questions were raised on site. The bill plans to allow the state treasury to invest up to 10% of its stabilization fund in crypto assets and to include Bitcoin or digital assets seized by the state government in its reserves. As both the House and Senate of the state are overwhelmingly controlled by the Democratic Party, which also holds the governor's office, it remains unclear whether the bill will pass. Previously, similar crypto reserve legislation has been passed in Texas, Arizona, and New Hampshire.