YEREVAN (CoinChapter.com) — Utah is advancing its plan to establish a Bitcoin reserve, benefiting from its 45-day legislative calendar. The state’s digital asset task force, which operates outside of regular sessions, plays a key role in ensuring continuous progress.
Satoshi Action Fund CEO Dennis Porter pointed to Utah’s advantage, stating that the state’s lawmakers must act quickly. Unlike other states with longer timelines, Utah’s short session forces immediate action on key proposals.
Utah’s Strategy for a Bitcoin Reserve
At least 15 US states are discussing Bitcoin reserves, but Utah’s legislative structure allows it to move faster. Donald Trump previously announced plans for a national crypto reserve, but his executive order did not create a direct path for individual states.
According to Dennis Porter, Utah is likely to lead.
“There’s a very good shot that Utah will be first because they have such a short legislative calendar. It is only 45 days. It’s either sink or swim in 45 days. No one else has a faster calendar, and no one else has more political momentum and willpower to get it done,”
he said in an interview with Senator Cynthia Lummis.
Strategic Bitcoin Reserve Update. Source: Simply Bitcoin
Lummis, a supporter of Bitcoin policies, said that Utah has positioned itself ahead of other states, including Wyoming, where she has been pushing blockchain regulations.
Utah’s Digital Asset Task Force Keeps Work Moving
A Bitcoin reserve proposal was introduced by a Utah legislator in late January, and it passed through committee in just over a week. Few other states have moved as quickly on similar proposals.
Utah’s digital asset task force, established in 2022, allows lawmakers to plan and refine strategies before the legislative session begins. This approach keeps momentum going while other states wait for their next legislative period.
Political Support and Existing Policies Strengthen Utah’s Position
Utah has supported Bitcoin policies for several years, creating a regulatory framework that could make a Bitcoin reserve more viable. The state government has already passed pro-crypto laws, making it one of the most crypto-friendly states in the US.
Different US States Progression in Establishing a Bitcoin Reserve. Source: Bitcoin LawsThe combination of legislative speed, ongoing policy work, and political support makes Utah a strong contender for becoming the first US state to hold a Bitcoin reserve.
Bitcoin Reserve Plans and Market Reactions
The move by Utah to create a Bitcoin reserve comes as discussions around state-level cryptocurrency reserves continue. While crypto markets react to political and regulatory developments, Utah’s approach keeps Bitcoin policy active in the US.
The post Utah Set to Become First US State With a Bitcoin Reserve first appeared on Coinchapter.
The post Utah Set to Become First US State With a Bitcoin Reserve appeared first on Coinchapter.
