State Legislatures Field Digital Currency Bills After Trump Executive Order

Bitcoin and digital asset bills have been field in at least 31 state legislatures, according to a Bitcoin Laws website tracking state legislative filings.

State legislatures across the country are considering a slew of bills related to digital currencies, with at least 31 states seeing such measures filed, according to a Bitcoin Laws website tracking state legislative filings.

The website breaks down each bill filed and its progress in its respective chamber.

The bills range in scope from broad measures to create state digital asset funds to more narrow proposals addressing specific aspects of digital currency regulation.

Here's a closer look at some of the bills filed:

- Alabama: Multiple bills filed, including one to establish a Blockchain Study Commission and another that would largely prohibit the state from certain actions related to digital assets

- Arizona: Several bills filed, either in committee or before the Legislature, that relate to state agencies and crypto currencies, state retirement systems and digital assets, creating a digital asset strategic reserve fund, allowing for public money to be invested in virtual currency, among others

- Florida: Companion legislation filed in both state houses to allow for public funds to be invested in Bitcoin

- Georgia: Bills filed in the state assembly would create a State Depository Board and authorize the state treasurer to invest in Bitcoin

- Iowa: A bill filed in the state House authorizes the state to invest public money in digital assets and precious metals

- Indiana: Bills filed in the state House relate to digital asset mining and blockchain technology

- Kansas: A state Senate bill authorizes the state's retirement board of trustees to invest in Bitcoin

- Kentucky: Bills filed in the state House relate to digital assets and state financial practices

- Maryland: A bill filed in the state Senate would largely create a Digital Asset Strategic Reserve Fund

- Massachusetts: A bill filed in the state House would create a Digital Assets Working Group to study and make recommendations on digital asset investments and policies

- Michigan: Several bills filed, including one that addresses mining crypto currency in an area zoned for industrial use and another that would create a Strategic Digital Asset Reserve Fund

- Mississippi: A Blockchain Basics Act was filed in the state House

- Missouri: Several bills filed in the state Legislature relate to digital assets, including precious metals and digital asset investments and a Digital Asset Mining Act

- Montana: Bills filed in the state Legislature relate to transferring BOI for investment in precious metals and digital assets and to create a Financial Freedom and Innovation Act

- New Hampshire: Bills filed in the state House authorize the state treasury to invest in precious metals and digital assets

- New Jersey: A Digital Asset and Blockchain Technology Act was filed in the state Assembly

- New Mexico: A bill filed in the state Senate would largely create a Digital Asset Reserve Fund

- New York: A bill filed in the state Senate would establish the New York state cryptocurrency and blockchain study task force

- North Carolina: A bill filed in the state House would largely create a Digital Assets investments act

- North Dakota: A bill filed in the state Senate relates to digital assets and precious metals; resolutions filed to direct the Legislative Management to consider studying political subdivisions making investments in stablecoins and encouraging the state treasurer and state investment board to invest select state funds in digital assets and precious metals

- Ohio: Companion legislation filed to largely create the Cryptocurrency Reserve Act and Ohio Bitcoin Reserve Act

- Oklahoma: A Senate bill authorizes employee compensation and vendor payments to be made in Bitcoin, among other measures

- Oregon: Bills filed in both chambers that relate to blockchains

- Pennsylvania: A bill filed in the state Senate would largely authorize the state treasurer to invest in Bitcoin or digital assets

- South Carolina: A bill filed in the state Senate relates to cryptocurrency

- South Dakota: A House bill would largely permit the state to invest in Bitcoin and a House resolution urges the State Investment Council to invest in Bitcoin

- Texas: Bills filed in the state Senate to largely establish the Texas Strategic Bitcoin Reserve, create an administration of it and another to largely allow for the state to invest in cryptocurrency

- Utah: A House bill proposes blockchain and digital innovation amendments

- West Virginia: A Senate bill largely creates a state treasurer Investment in Precious Metals and Digital Currency Act

- Wyoming: A House bill proposed a state-funded investment in Bitcoin and another bill largely authorizes digital asset investments in precious metals

Several bills have already failed in Wyoming, Pennsylvania, North Dakota and Mississippi, according to the analysis.

For instance, Wyoming's bill authorizing state funds to be invested in Bitcoin is dead, as is a Pennsylvania bill authorizing the state treasurer to invest in Bitcoin or digital assets, a North Dakota bill authorizing digital asset investments in precious metals, and a Mississippi Blockchain Basics Act.

State legislatures are considering the digital currency legislation after President Donald Trump on his third day in office issued an executive order "to establish regulatory clarity for digital financial technology and secure America’s position as the world’s leader in the digital asset economy, driving innovation and economic opportunity for all Americans."

The order established the Presidential Working Group on Digital Asset Markets to develop a federal regulatory framework to govern digital assets, including stablecoins, and consider creating a strategic national digital assets stockpile. The working group is chaired