Establishes a Commonwealth Bitcoin Strategic Reserve for Massachusetts to invest in Bitcoin and digital assets.
This bill creates a Commonwealth Bitcoin Strategic Reserve to be managed by the State Treasurer. The Treasurer can invest up to 10% of the Commonwealth Stabilization Fund in Bitcoin or digital assets. Bitcoin or digital assets acquired by the fund must be held securely by a qualified custodian or through an exchange-traded product. The Treasurer may also loan Bitcoin or digital assets to generate returns, provided it does not increase financial risk to the Commonwealth. The bill defines terms such as "Bitcoin," "digital asset," "qualified custodian," and "secure custody solution.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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