HB1217--CRYPTOCURRENCY
SPONSOR: Keathley
Thisbillestablishesthe"BitcoinStrategicReserveFund"andthe
StateTreasureristhecustodianofthefund.TheTreasurermay
acceptgifts,grants,donations,bequests,ordevisesofBitcoin,
asdefinedinthebill,fromeligibleMissouriresidentsora
governmentalentity.TheTreasurerisauthorizedtostorethe
Bitcoinforfiveyearsafterwhichitcanbetransferred,sold,
appropriated,orconvertedtoanothercryptocurrency, astheterm
isdefinedinthebill.
Transactionsinvolvingforeigncountries,entitiesorindividuals
outsidetheStateofMissouriorthoseknowntoengageinillegal
activities,areprohibited. Inaddition,thetreasurercan
contractwithathird-partycryptocurrency entitytoensurethe
Fund'ssecurity.
ThebillprovidesfortheTreasurertoprepareabiennialreport
beforeDecember31ofeacheven-numberedyearandpostitonthe
Treasurer'swebsite. TheTreasurermustnotifytheGeneral
Assemblywhenthereportispublished. Thereportmustincludethe
informationthatisdetailedinthebill.
ThebillauthorizestheTreasurertoinvest,purchase,andhold
cryptocurrency usingstatefunds.Further,thebillprovidesfor
allgovernmentalentitiestoacceptcryptocurrency approvedbythe
DepartmentofRevenueforpaymentofanytax,fee,cost,charge,
assessment,fine,orotherpaymentofexpenseowedtothe
governmentalentity,andthepayercanberequiredtopayservice
feesrelatingtothetransaction.