Missouri bill HB 2080 would create Bitcoin reserve and allow crypto

Missouri plans bitcoin reserve fund

Missouri House Bill 2080 would establish a Bitcoin Strategic Reserve Fund inside the state treasury. The Missouri State Treasurer would act as custodian of this fund under the bill. The treasurer could receive bitcoin through gifts, grants, donations, bequests, or devises from eligible Missouri residents and governmental entities. The bill bars transactions involving foreign countries, entities or individuals outside Missouri, and parties linked to illegal activity. These restrictions define who can contribute to the reserve and seek to limit legal and jurisdictional risks.

Five year holding rule and custody

HB 2080 sets a minimum holding period of five years for bitcoin placed in the Strategic Reserve Fund. During this time, the State Treasurer must store the bitcoin and cannot transfer, sell, appropriate, or convert it to another cryptocurrency. After the five year period, the treasurer could take those actions according to the bill’s terms. The official summary also states that the treasurer can contract with a third party cryptocurrency service provider for storage and security. This creates a framework for long term holding and professional custody of the reserve assets.

Reporting duties for bitcoin reserve

HB 2080 requires the State Treasurer to issue a biennial report on the Bitcoin Strategic Reserve Fund. The treasurer must prepare this report before 31 December in every even numbered year. The report must appear on the treasurer’s official website and include information about balances, transactions, and security issues. The treasurer must also notify the Missouri General Assembly after publishing the report. These obligations create a public record of how the Strategic Reserve Fund operates over time.

Crypto payments and state investments

HB 2080 goes beyond the reserve fund and addresses cryptocurrency payments to Missouri governmental entities. The bill states that all governmental entities may accept cryptocurrency approved by the Department of Revenue for any tax, fee, cost, charge, assessment, fine, or other payment. Payers can be required to cover service fees linked to these transactions. The bill also authorizes the State Treasurer to invest, purchase, and hold cryptocurrency using state funds under defined limits. This combination of payment acceptance and investment powers marks a structured entry of Missouri state finances into digital assets.