#Utah lawmakers propose holding Bitcoin#

Utah State Representative Jordan Teuscher has introduced a bill that would authorize the state to invest in digital assets, including Bitcoin and stablecoins. The bill would allow the state treasurer to invest in qualified digital assets and establishes custodial and management requirements. Additionally, the bill sets out regulatory standards for stablecoins and authorizes participation in staking and lending under certain conditions. The bill allows for up to 10% of state funds to be invested in Bitcoin and stablecoins, which would make Utah the first state in the United States to invest public funds in cryptocurrency. The bill's introduction has sparked widespread debate, with some arguing that it would make Utah a leader in the digital asset space, while others have expressed concerns about the risks involved. The bill is currently under consideration, and its ultimate outcome remains to be seen.