Missouri Home Invoice 2080, launched in January by Consultant Ben Keathley, has been referred to the Home Commerce Committee, the place it awaits a public listening to and committee vote. The measure would create a “Bitcoin Strategic Reserve Fund” for the state.
It will authorize the treasurer to amass, maintain, and handle Bitcoin below outlined statutory tips.
The proposal follows a failed 2025 effort by Keathley, whose prior invoice stalled in committee and didn’t attain a ground vote. This yr’s model arrives with revised committee placement and a extra structured custody framework.
Beneath HB 2080, the state treasurer could be permitted to just accept items, grants, donations, bequests, or devises of bitcoin from Missouri residents and governmental entities. The invoice additionally authorizes the treasurer to buy and maintain bitcoin utilizing state funds, although the framework emphasizes voluntary contributions as the first funding supply.
Bitcoin acquired for the reserve have to be positioned in chilly storage and held for no less than 5 years from the date it enters state custody. Throughout that interval, the belongings can’t be offered, transferred, or transformed.
After the five-year threshold, the treasurer might promote, switch, acceptable, or convert the holdings into one other cryptocurrency approved below the invoice.
The laws defines bitcoin as a decentralized digital asset working on a peer-to-peer community with out centralized management. It additionally codifies “chilly storage” as an offline technique of securing non-public keys in a protected bodily atmosphere. By embedding definitions into statute, lawmakers search to determine a authorized basis for custody and danger administration.
HB 2080 requires the treasurer to develop formal custody insurance policies and authorizes the usage of a professional, unbiased, United States-based third-party entity to help in securing and administering the reserve. The invoice mandates biennial public reporting and oversight procedures designed to supply transparency into the fund’s holdings and exercise.
A separate provision would permit Missouri state companies, with approval from the Division of Income, to just accept cryptocurrency for taxes, charges, penalties, and different state obligations. Transaction prices could also be borne by the payer.
If the Commerce Committee advances the invoice, it’s going to transfer to the complete Home for debate and vote. Approval there would ship it to the Senate for committee assessment, ground consideration, and closing passage.
The measure would then proceed to Governor Mike Kehoe for signature or veto. The invoice carries a proposed efficient date of Aug. 28, 2026.
Missouri eliminates state capital beneficial properties
Final yr, Missouri Home Invoice 594 (HB594) cleared the Missouri Home and was signed into regulation by Mike Kehoe. The measure has since been carried out, eliminating Missouri’s state capital beneficial properties tax by permitting residents to deduct 100% of federally reported capital beneficial properties from their state adjusted gross earnings — that means Missourians owe no state tax when promoting or spending bitcoin.
Efficient Jan. 1, 2025, Missouri grew to become the primary state to completely repeal state earnings taxes on capital beneficial properties for people. The 100% deduction applies to each short- and long-term beneficial properties derived from belongings akin to shares, actual property and cryptocurrency, although it doesn’t lengthen to distributions from retirement accounts.
