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New Strategic Bitcoin Reserve Bill: Ohio Gains Support From 6 Co-Sponsors

Bitcoinist LogoBitcoinist2d ago

New Strategic Bitcoin Reserve Bill: Ohio Gains Support From 6 Co-Sponsors - Bitcoinist

Quick Summary:

In a significant development amid evolving regulatory landscapes in the United States, Ohio has introduced a bill aimed at establishing a Strategic Bitcoin Reserve.  Spearheaded by Majority Whip Steve Demetriou and supported by six co-sponsors, the legislation seeks to enhance the state’s treasury reserves by allowing the allocation of funds into Bitcoin.

In a notable shift, the US Securities and Exchange Commission (SEC) has also rescinded accounting guidance that had previously hindered companies from safeguarding crypto assets for third parties.

Notably, the proposal stipulates that only Bitcoin qualifies for the reserve, requiring a market capitalization of $750 billion and an average valuation over the preceding 12 months, thereby imposing stringent qualifications.

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Article Details

Author / Journalist: Ronaldo Marquez

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-25 @ 17:30:20 (2 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 468 words

Reading Time: 3 minutes read

Sentences: 32 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 25431271

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Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 12 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 9 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #105

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  • URL: https://chronographically.beamstart.com/news/new-strategic-bitcoin-reserve-bill-17378266355368

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