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 could authorize the treasurer to accumulate, 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 flooring vote. This 12 months’s model arrives with revised committee placement and a extra structured custody framework.
Beneath HB 2080, the state treasurer could be permitted to simply accept presents, 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 should 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 surroundings. By embedding definitions into statute, lawmakers search to determine a authorized basis for custody and threat administration.
HB 2080 requires the treasurer to develop formal custody insurance policies and authorizes the usage of a certified, 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 simply 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 is going to transfer to the complete Home for debate and vote. Approval there would ship it to the Senate for committee evaluation, flooring consideration, and ultimate 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 features
Final 12 months, Missouri Home Invoice 594 (HB594) cleared the Missouri Home and was signed into legislation by Mike Kehoe. The measure has since been applied, eliminating Missouri’s state capital features tax by permitting residents to deduct 100% of federally reported capital features from their state adjusted gross earnings — which means Missourians owe no state tax when promoting or spending bitcoin.
Efficient Jan. 1, 2025, Missouri turned the primary state to completely repeal state earnings taxes on capital features for people. The 100% deduction applies to each short- and long-term features derived from belongings similar to shares, actual property and cryptocurrency, although it doesn’t prolong to distributions from retirement accounts.