Massachusetts Bitcoin Reserve Bill Receives Limited Support at Hearing

A proposal to establish a Bitcoin reserve for the state of Massachusetts faced lukewarm reception during its first legislative hearing in eight months. Senator Peter Durant, who sponsored the bill, detailed the proposed mechanism during Tuesday’s session before the Joint Committee on Revenue. The plan outlines using up to 10% of the Commonwealth Stabilization Fund for Bitcoin investment and enabling any seized Bitcoin or digital assets by state authorities to be added to the reserve. Durant emphasized the bill’s transparency and risk-management capabilities while steering clear of mandates.