Missouri lawmakers have introduced House Bill 2080, aiming to establish a Bitcoin Strategic Reserve Fund.
The bill, sponsored by Representative Keathley, would place Bitcoin under the State Treasurer’s management. It also allows government agencies to accept cryptocurrency for tax and fee payments.
The proposal reflects growing interest in integrating digital assets into state-level financial systems.
Structure and security of the Bitcoin strategic reserve Fund
Under the proposed law, the State Treasurer would serve as custodian of the Bitcoin Strategic Reserve Fund.
Contributions could come from gifts, grants, donations, bequests, or devises by Missouri residents or governmental entities.
Bitcoin in state custody must remain held for a minimum of five years. After this period, the treasurer may transfer, sell, appropriate, or convert the assets, ensuring the fund is not used for short-term speculation.
The bill emphasizes security protocols, requiring cold storage and other custodial technologies.
The treasurer may contract a qualified, US-based third-party cryptocurrency entity to enhance fund security.
Regular audits and biennial reports are mandated, detailing Bitcoin holdings, US dollar equivalents, fund growth, transactions, security threats, and eligible conversion amounts.
Reports must be published before December 31 of each even-numbered year to ensure transparency.
Cryptocurrency payments and donor recognition in Missouri
House Bill 2080 also allows Missouri government entities to accept approved cryptocurrency for taxes, fees, fines, assessments, and other charges.
The Department of Revenue would determine which cryptocurrencies qualify, and service fees may be passed on to payers.
The legislation creates a recognition program for donors, allowing the State Treasurer to issue certificates of acknowledgment for contributions.
Significant donors may receive additional public recognition through a formal honors program.
Donor eligibility is at the treasurer’s discretion, and contributions from foreign entities or parties engaged in illegal activities are strictly prohibited.
Only US-based partners may assist in fund operations, maintaining oversight and legal compliance.
The bill grants rulemaking authority, but this authority would become void if related legislative oversight provisions are later ruled unconstitutional.
Representative Keathley said the proposal could modernize state financial systems while providing a secure framework for public digital asset management.
Lawmakers are now reviewing the bill, which could position Missouri among the first states to adopt a formal Bitcoin reserve fund and cryptocurrency payment infrastructure.