德克萨斯州移至持有比特币（BTC）作为储备资产的一步

德克萨斯州已将比特币（BTC）作为储备资产迈出了一步，州参议院于3月6日通过了一项法案

Texas has moved a step closer to holding Bitcoin (BTC) as a reserve asset, with the state senate passing a bill on March 6 that would allow public funds to be allocated to digital assets.

得克萨斯州已将比特币（BTC）作为储备资产迈出了一步，州参议院于3月6日通过了一项法案，该法案将允许将公共资金分配给数字资产。

The decision places Texas at the forefront of a growing trend among states exploring crypto investments following President Donald Trump’s call for a federal strategic crypto reserve.

在唐纳德·特朗普（Donald Trump）总统呼吁联邦战略加密保护区呼吁之后，该决定使得克萨斯州陷入探索加密投资的州的发展最前沿。

State-level momentum

州级势头

The Texas bill, SB 21, would permit the state to invest in Bitcoin, a move its sponsor, Senator Charles Schwertner, described as a hedge against inflation and financial instability. Schwertner argued that Bitcoin has repeatedly proven its resilience through economic cycles, making it a viable reserve asset.

SB 21的德克萨斯州法案将允许该州投资比特币，这是其赞助商Charles Schwertner的举动，被描述为反对通货膨胀和金融不稳定的对冲。 Schwertner认为，比特币通过经济周期反复证明了其韧性，使其成为可行的储备资产。

“We need to be able to have assets that will hold their value over time, and Bitcoin has done an excellent job of maintaining its purchasing power, even as the dollar has depreciated steadily,” said Schwertner.

Schwertner说：“我们需要能够拥有随着时间的推移价值的资产，而且比特币在维持其购买力方面做得很好，即使美元稳步贬值。”

The bill now advances to the assembly, where it faces a vote before potentially reaching Governor Greg Abbott's desk for signature.

该法案现在进入了大会，在可能接触州长格雷格·雅培（Greg Abbott）的办公桌之前，它面临投票。

New Hampshire also advanced its own legislation this week. On March 5, a state house committee approved House Bill 302 by a 16-1 vote, paving the way for the state to invest up to 5% of public funds in bitcoin and precious metals. The bill now awaits a full vote in the state legislature.

新罕布什尔州也在本周提出了自己的立法。 3月5日，州议会委员会以16-1的投票批准了众议院法案302号法案，为该州投资于比特币和贵金属的5％的公共资金铺平了道路。该法案现在正在等待州立法机关进行全面投票。

The bill's sponsor, Representative Ken Moniz, highlighted the state's strong fiscal position and the potential for generating returns through bitcoin investments.

该法案的赞助商肯·莫尼兹（Ken Moniz）的代表强调了该州的强大财政状况以及通过比特币投资产生回报的潜力。

“We have a $1 billion surplus in the state treasury, and we're looking for ways to invest it wisely,” said Moniz. “We can't keep putting it all in the stock market, and we need to diversify our investment portfolio.”

莫尼兹说：“我们在州财政部有10亿美元的盈余，我们正在寻找明智的投资方法。” “我们不能一直将所有这些都投入股票市场，我们需要使我们的投资组合多样化。”

The legislation faced opposition from state Treasurer توم مان, who expressed concerns over administrative burdens and the potential for political interference in investment decisions.

这项立法面临着国家财务主管§Inders的反对，他对行政负担表示关注，并有可能在投资决策中进行政治干预。

"We're already managing billions of dollars in a highly efficient and effective manner," said Man. "Adding bitcoin and precious metals would create a significant administrative headache and open the door to undue political influence over our investment strategy."

曼说：“我们已经以高效有效的方式管理了数十亿美元。” “添加比特币和贵金属将引起重大的行政头痛，并为我们的投资战略造成不当政治影响力的大门。”

Despite this opposition, the committee ultimately voted in favor of the bill, sending it to the full house for consideration.

尽管有这种反对，但委员会最终还是对该法案进行了投票，将其发送给了整个众议院。

Meanwhile, Utah is running out of time to finalize a similar proposal. The state's legislative session ends on March 7, and its bill — already passed by the state house — still awaits a vote in the Senate.

同时，犹他州的时间已经用完了，无法最终确定类似的建议。该州的立法会议将于3月7日结束，其法案（已经由州议会大众通过）仍在等待参议院的投票。

If approved, it would allow Utah to allocate public funds to digital assets valued at over $500 billion in market capitalization, a criterion that currently applies only to Bitcoin. Governor Spencer Cox, a Republican who has previously supported blockchain initiatives, would then decide whether to sign it into law.

如果获得批准，它将允许犹他州将公共资金分配给价值超过5000亿美元的市值的数字资产，该标准目前仅适用于比特币。总督斯宾塞·考克斯（Spencer Cox）先前支持区块链计划的共和党人将决定是否将其签署为法律。

The bill's sponsor, Representative Steve McMullin, emphasized the state's need for new revenue streams to fund critical programs.

该法案的赞助商，代表史蒂夫·麦克穆林（Steve McMullin）强调了该州对新收入来源资助关键计划的需求。

"We're facing a budget crisis, and we need to think outside the box,” said McMullin. "Bitcoin presents a unique opportunity to generate significant returns on investment and diversify our revenue portfolio."

麦克穆林说：“我们面临预算危机，我们需要思考开箱即用。比特币为产生大量投资回报并使我们的收入组合多样化提供了独特的机会。”

The bill's passage would make Utah a leader in cryptocurrency regulation and innovation, potentially attracting industry talent and investment to the state.

该法案的通过将使犹他州成为加密货币监管和创新的领导者，有可能吸引该州的行业人才和投资。

Federal crypto reserve

联邦加密保护区

The surge in state-level crypto legislation follows Trump’s renewed push for a national crypto reserve, which he announced on social media on March 2. The US President outlined a plan that could include digital assets beyond Bitcoin.

在特朗普重新推动国家加密保护区的新努力之后，国家级加密立法的激增，他于3月2日在社交媒体上宣布。美国总统概述了一项计划，其中可能包括比特币以外的数字资产。

"We need to create a national strategic crypto reserve to serve as a hedge against inflation, financial instability, and geopolitical risk," Trump wrote on Thursday.

特朗普在周四写道：“我们需要创建一个国家战略加密保护区，以作为抵制通货膨胀，金融不稳定和地缘政治风险的对冲。”

The proposal has sparked debate among industry figures, with some supporting the initiative and others raising concerns.

该提案引发了行业人物之间的辩论，其中一些支持该计划，而另一些则引起了人们的关注。

CoinDesk reported that Garland expressed skepticism about the plan, highlighting the legal and administrative complexities involved in managing such a reserve.

Coindesk报道说，Garland对该计划表示怀疑，强调了管理此类储备所涉及的法律和行政复杂性。

Industry leaders have largely pushed back against including multiple cryptocurrencies, arguing that Bitcoin alone has the characteristics necessary for a reserve asset comparable to gold.

行业领导者在很大程度上反对包括多种加密货币，认为仅比特币就具有可与黄金相当的储备资产所必需的特征。

"The president is thinking about a basket of digital assets, but that would be a logistical nightmare," said Mike Novogratz, CEO of crypto-focused investment firm Galaxy Holdings. "We should focus on Bitcoin, the original and best cryptocurrency, as the core of the reserve."

“总统正在考虑一篮子数字资产，但这将是一场后勤的噩梦，”以加密货币为中心的投资公司Galaxy Holdings的首席执行官Mike Novogratz说。 “我们应该专注于比特币，原始和最佳的加密货币，作为保护区的核心。”

Uncertainty remains over how the government would source or manage such a portfolio, and no formal policy framework has been proposed.

政府将如何采购或管理这样的投资组合，并且没有提出正式的政策框架。

With some states moving aggressively toward bitcoin adoption and others facing legislative roadblocks, the debate over cryptocurrency's role in public finance is expected to intensify in the coming months.

随着一些州积极向比特币采用，而另一些州则面临立法障碍，因此关于加密货币在公共财政中的作用的辩论预计将在未来几个月内加剧。