Image
Image
27-29 May, 2025
Image 27-29 May, 2025

Las Vegas, NV

Skip to content
Subscribe
  • Home
  • Services
  • Video
  • Events
Subscribe

Reading

Maryland Introduces Bitcoin Reserve Bill
News Adoption

Maryland Introduces Bitcoin Reserve Bill

Maryland is the latest to join the growing list of states seeking exposure to bitcoin.
Alex Lari
By: Alex Lari
Feb 10, 2025
2 min read
Maryland Introduces Bitcoin Reserve Bill

Maryland introduced the Bitcoin Reserve Act, a bill that would allow the state to invest gambling enforcement violation funds into bitcoin. Introduced by Delegate Caylin Young, this is to help the state diversify its funds and hedge against inflation.

Maryland has a “Problem Gambling Fund” under § 9-1A-33 of the State Government Article. The fund is funded by annual fees paid by video lottery operation licensees.

And if an individual who is in the Voluntary Exclusion Program violates their self-exclusion and is found gambling in a casino, any unredeemed items and prizes in their possession are transferred to the Problem Gambling Fund.

Young says this could put Maryland at the forefront of Bitcoin adoption and that bitcoin is a long term store of value.

If passed, the bill would create a bitcoin reserve fund managed by the Maryland State Treasurer. The fund would hold bitcoin and accept bitcoin donations from residents and government agencies.

maryland bitcoin reserve act
Maryland’s bill is exclusive to bitcoin — maryland.gov

The bill also says state agencies would accept bitcoin for payments including taxes, fines and fees. But individuals making these payments would be responsible for transaction fees.

Kentucky is another state that recently introduced a similar bill.

The state has introduced House Bill 376, which allows it to invest in bitcoin. While the bill doesn’t specifically name bitcoin, it sets a financial threshold that makes bitcoin the only viable candidate.

This is a national trend, and Maryland and Kentucky are not alone in exploring bitcoin as a reserve asset. According to bitcoinlaws.io, at least 20 states are working on digital asset legislation.

Maryland is the 17th US state to propose a bitcoin reserve plan.

Bitcoin’s fixed supply of 21 million coins makes it attractive to governments looking for an inflation hedge. Some lawmakers think bitcoin could be the “digital gold” to help states protect their financial reserves from the declining value of the US dollar.

While Bitcoin is promising, there are caveats. Its market is very volatile so state reserves could fluctuate a lot. And cybersecurity is a big risk. States investing in bitcoin must have strong security to protect their holdings from hacks and theft.

Regulatory uncertainty is another challenge. Bitcoin is legal in the US but the federal government has not yet provided clear guidance on how states should manage digital assets.

At the federal level, Senator Cynthia Lummis is pushing for a national bitcoin reserve. Her proposal is to have the US accumulate 1 million bitcoin (5% of the total supply) over the next 5 years.

In a recent interview, Lummis said the US must get involved with digital assets, believing that bitcoin can do things to the economy that no one has explored.

But not everyone is in. The European Central Bank has rejected the idea of adding bitcoin to their reserves, citing liquidity and security concerns.

Stay on top of Bitcoin
news, get weekly updates
in your inbox.

Recommended News

Adoption
Adoption
DDC Enterprise Starts Bold Bitcoin Strategy with 21 BTC Purchase
May 25, 2025
2 min read
By: Alex Lari
Legal
Legal
Fake Ledger Live App Discovered Targeting MacOS Users
May 24, 2025
4 min read
By: Alex Lari
Markets
Markets
Blackstone, World’s Largest Alternative Asset Manager, Invests in IBIT
May 22, 2025
3 min read
By: Alex Lari
All News
Accelerating Adoption
News
  • Adoption
  • Legal
  • Markets
  • Mining
  • Opinion
  • Press Release
  • Learn
  • Sponsored
Company
  • About Us
  • Brand Assets
  • Newsletter
  • Services
  • Site Map
  • Terms & Privacy
Connect
  • Contact Us
  • Contribute
  • Services
  • Media Partner
  • RSS
  • Videos
Social Media
  • Twitter
  • YouTube
  • Telegram
  • LinkedIn
  • Instagram
  • Nostr
  • TikTok
  • Flipboard

© A Bitcoin-Focused Company | 256 Media, 2024

Language Switcher
Search
  • News
    • Adoption
    • Legal
    • Markets
    • Mining
    • Opinion
    • Press Release
    • Learn
    • Interviews
  • Services
  • Video
  • Events
  • News
    • Adoption
    • Interviews
    • Learn
    • Legal
    • Markets
    • Mining
    • Opinion
    • Press Release
  • About Us
  • Contact
  • Newsletter
Search

Popular Articles

DDC Enterprise Starts Bold Bitcoin Strategy with 21 BTC Purchase
May 25, 2025 · 2 min
Bitcoin is Redefining the Hurdle Rate in Modern Investing
May 24, 2025 · 4 min
Fake Ledger Live App Discovered Targeting MacOS Users
May 24, 2025 · 4 min
Ledn Moves to Fully Custodied, Bitcoin-Only Loan Model
May 23, 2025 · 3 min
How Adam O’Brien Built Bitcoin Well to Bypass Traditional Banking
May 23, 2025 · 6 min
Sangha Renewables to Launch 20MW Solar Mining Farm in Texas
May 23, 2025 · 3 min

Bitcoin Only
Newsletter

Get weekly news roundups direct to your inbox!