The Oklahoma State Senate Committee votes to reject the Bitcoin reserve proposal

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Bitget2025/04/16 08:55

The Oklahoma State Senate Tax Committee narrowly rejected House Bill 1203 (also known as the "Strategic Bitcoin Reserve Act") by a margin of 6 to 5. HB1203, proposed by Representative Cody Menard in January this year, would allow the Oklahoma State Treasurer to invest in Bitcoin and other qualifying digital assets. Qualifying digital assets are defined as any asset with a market value exceeding $500 billion over the past year. Currently, only Bitcoin meets this threshold. An earlier committee overwhelmingly passed the bill in February with a vote of 12 to 2, setting the stage for Monday's significant showdown.

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