Missouri Representative Ben Keathley has introduced House Bill 1217, a legislative proposal that would establish a state-managed Bitcoin Strategic Reserve Fund. The bill, presented in the 103rd General Assembly, outlines the state’s authority to invest in, hold, and utilize cryptocurrency for various governmental transactions.
Inside Missouri’s Bitcoin Bill
HB 1217 mandates the creation of a Bitcoin reserve fund, with the Missouri state treasurer acting as its custodian. According to the bill, all Bitcoin collected under the reserve program must be held for a minimum of five years before it can be transferred, sold, or converted to another cryptocurrency. Unlike Missouri Senate Bill 614, which proposes a 10% cap on state crypto investments, HB 1217 does not include a specific investment limit.
The bill also requires all Missouri governmental entities to accept cryptocurrency as a form of payment. The state’s Department of Revenue will determine which cryptocurrencies qualify, and government agencies may impose service fees on crypto transactions. This provision expands the use of digital assets for tax payments, fines, fees, and other government-related expenses.
🚨 NEW: MISSOURI BITCOIN RESERVE BILL
House Bill 1217 – introduced today.
This is MO’s 2nd SBR bill. First is in the Senate (SB614).
Key differences in this bill:
🟠 No explicit cap on investment. (SB614: 10% cap)
🟠 Govt must accept crypto payments
🟠 5 YR HODL pic.twitter.com/I0beysSPs7— Julian Fahrer (@Julian__Fahrer) February 6, 2025
Additionally, the legislation grants the state treasurer the authority to invest in, purchase, and hold cryptocurrency using state funds. The bill aligns with growing efforts among U.S. states to integrate Bitcoin into public financial systems. Missouri’s Senate Bill 614, introduced earlier, shares similar objectives but differs in key provisions, including an explicit cap on Bitcoin holdings.
House Bill 1217 marks Missouri’s second attempt to establish a state Bitcoin reserve. The proposed legislation reflects ongoing discussions regarding crypto adoption at the state level. The bill’s introduction follows broader trends of state governments exploring Bitcoin as a treasury asset and payment method.
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