Utah Passes Bitcoin Bill—But Ditches Plans for State Reserve

Utah lawmakers have approved a Bitcoin-focused bill, but not in its original form. The state’s HB230 “Blockchain and Digital Innovation Amendments” bill, which initially included a provision for Utah to hold Bitcoin in its state reserves, has now passed the Senate without this landmark proposal.

The bill, which passed with a 19-7-3 vote on March 7, will now head to Governor Spencer Cox’s desk for final approval. While the legislation still protects Bitcoin mining rights, node operation, and staking participation for Utah residents, it no longer includes the clause allowing the state treasurer to invest up to 5% of Utah’s funds in Bitcoin.

According to Senator Kirk A. Cullimore, one of the bill’s sponsors, the decision to remove the reserve clause came after concerns over Utah becoming an early adopter of such financial policies. “All of that has been stripped out of the bill,” Cullimore confirmed during the March 7 floor session.

The Bitcoin reserve provision cleared an earlier vote but was ultimately removed in the third and final reading before being sent to the governor. Utah’s House of Representatives later concurred with the amendment in a 52-19-4 vote.

States Push Forward With Bitcoin Reserves

Utah was on track to become the first U.S. state to hold Bitcoin in its treasury, a move that Satoshi Action Fund CEO Dennis Porter had noted as a major step toward Bitcoin adoption. However, with this reversal, attention now turns to Arizona and Texas, where Bitcoin reserve bills are advancing through their legislative processes.

According to Bitcoin Laws data, both states have successfully passed Senate committee votes and are awaiting a final floor vote. Meanwhile, other states—including Illinois, Iowa, Maryland, Massachusetts, New Hampshire, and Ohio—still have active Bitcoin reserve bills under consideration.

Out of the 31 Bitcoin reserve bills introduced nationwide, 25 remain active, while legislation in states like Pennsylvania, Montana, and North Dakota has failed.

Trump’s Strategic Bitcoin Reserve

This state-level push comes amid federal action on Bitcoin policy. On March 7, U.S. President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve at the federal level.

The initiative will initially use Bitcoin seized from criminal cases, with plans for further acquisitions using budget-neutral strategies outlined by the Treasury and Commerce secretaries.

While Utah may have backed away from its Bitcoin reserve ambitions, the broader movement toward state and federal Bitcoin holdings appears far from over.