The state of Utah is becoming a leader among American regions in the issue of introducing bitcoin into the public financial system. The bill on the strategic bitcoin reserve has successfully passed the House of Representatives and is now heading to the Senate.

If approved, the Utah Treasury Department will be authorized to invest up to 5% of government funds in bitcoin, stablecoins, and other highly liquid digital assets. The bill was initiated by Representative Jordan Teucher, and its adoption will allow the state to create a financial reserve independent of the traditional banking system.

Utah is not the only state discussing such measures. A similar bill is being promoted in Arizona, and a similar strategic reserve has already been proposed in New Mexico. However, it is Utah that is now the closest to officially consolidating bitcoin as part of its economy.

If the law is passed, the governor of the state can either sign it or veto it. Interest in bitcoin is growing among American states, and this move could set a precedent for the entire country.