Ohio lawmakers propose establishing a Bitcoin reserve fund in state finances

PANews reported on December 18 that U.S. Representative Derek Merrin of Ohio submitted Bill 703 (Ohio Bitcoin Reserve Act), proposing to establish a Bitcoin reserve fund in state finances and authorizing the state treasurer to flexibly Investing in Bitcoin is not required, but is not required. Merlin pointed out that the U.S. dollar is rapidly depreciating and Bitcoin can be used as a tool to protect tax funds and strengthen state finances. This legislation provides a framework for state governments to leverage Bitcoin technology to address economic challenges and promote innovation. Similar bills have been proposed in Texas and Pennsylvania with the goal of establishing state-level Bitcoin reserves.