Oklahoma’s unsuccessful attempt to become one of the first U.S. states to implement a Bitcoins supply has come to an abrupt end.
House Bill 1203, also known as the Strategic Bitcoin Reserve Act, was struck down by the Senate Income and Taxation Committee in a close 6-5 voting on Monday despite soon speed and a shock voting change from Sen. Christi Gillespie.
Gillespie changed her mind after” a couple of electorate” reached out saying she had planned to ballot no “up until this evening.”
” A lawmaker changed their No-vote to a” Yes” vote because they heard from their Bitcoiner constituents”! said Dennis Porter, co-founder and CEO of Satoshi Action Fund, urging Crypto supply advocates to continue to lobby politicians. Your speech is important, I say!
The energy in Oklahoma, however, was unsuccessful. Republican Senators Todd Gollihare, Chuck Hall, Brent Howard, Dave Rader, and Democrats Julia Kirt and Mark Mann received the “no” seats.
Legislation introduced by Rep. Cody Maynard in January, HB1203 would have allowed the state treasurer of Oklahoma to make an investment in Bitcoin and other digital goods that fall under the category of those that have over$ 500 billion in market cap. Just Bitcoin currently reaches that level.
The bill was approved by a council earlier in February by a significant percentage of 12 to 2, setting up the high-stakes showdown on Monday.
Express work to set up a Bitcoin supply
With Oklahoma then a distant second, New Hampshire, Texas, and Arizona have emerged as the front-runners in the culture to become the first state in the United States to create a proper Bitcoin supply.
Following new rejects in Montana, North Dakota, Pennsylvania, South Dakota, and Wyoming, it also marks the latest punch to such ideas.
In the meantime, New Hampshire’s House passed HB302, a bill that allows for the investment of up to 10 % of the country’s public fund in Bitcoin and beautiful metal on April 10. The Senate is given more attention by the bill’s 19-to-27 voting.
HB487, which would allow up to 10 % of some state resources to get invested in Bitcoin, was universally passed on the same day as New Hampshire’s vote.
In the meantime, Arizona continues to lead in terms of parliamentary speed. SB1373 and SB1025, which proposed the Arizona State Treasurer invest people money in Bitcoin, were approved on March 24 by the government’s House Rules Committee.
A full ground vote on the payments is now required in the House. If they are passed, Governor Katie Hobbs may be given the final say in the policy.
After a controversial discussion on the Senate ground, the Texas Senate approved SB-21, a Blockchain strategic reserve invoice, on March 6 with a 25–5 vote.
According to the data from the reserve tracker Bitcoin Laws, 47 State Bitcoin Reserve ( SBR ) bills have been introduced in 26 states at the moment, with 40 active bills still living in 20 states.
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