The Utah Senate has passed a crypto bill known as HB230, titled "Blockchain and Digital Innovation Amendments," a step toward integrating crypto into the state’s legal framework.
The original bill draft underwent a notable change during its legislative journey: a key provision that would have made Utah the first U.S. state with its own crypto reserve was removed before final approval.
Originally, the bill included a reserve clause that would have allowed Utah's state treasurer to invest up to 5% of certain public funds into cryptocurrencies with a market capitalization exceeding $500 billion over the prior year — targeting Bitcoin, the only crypto meeting this threshold.
While the bill's most ambitious provision — a state crypto reserve — was removed before final passage, it still establishes a forward-thinking framework supporting citizens' engagement with crypto and blockchain activities. In its final form, HB230 ensures the state's citizens can self-custody their crypto, mine Bitcoin, run blockchain nodes, and participate in staking without interference.
The bill passed with a 19-7-3 vote in the Senate on Friday and now awaits the signature of Governor Spencer Cox to become law.
Until the reserve clause was removed, Utah had been seen as a frontrunner in the race among U.S. states to establish a Bitcoin reserve. With the provision removed, attention will shift to states like Arizona and Texas, where similar Bitcoin reserve bills are closest to approval, according to data from Bitcoin Laws.
Over 30 states have proposed legislation related to Bitcoin or crypto reserves. Of these, Montana, North Dakota, Wyoming, South Dakota and Pennsylvania have definitively rejected Bitcoin reserve bills.
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