New Legislation Advances Crypto Reserve Strategy
The Illinois state legislature has introduced the Community Bitcoin Reserve Act, aiming to establish a state-backed Bitcoin storage initiative using multi-signature cold wallet technology to enhance security and long-term asset value.
Pilot Community Takes the Lead
The initiative will first launch in the Altgeld community, where the first Bitcoin reserve will be set up. According to the bill, the reserve assets cannot be traded or sold without legislative approval.
Innovative Step for Crypto Economy
This proposal represents a novel approach to crypto infrastructure, exploring the government’s role in digital assets and promoting blockchain technology’s regulatory compliance development.