Utah House Committee approves bill allowing investment in digital assets
The Utah House Economic Development Committee approved a blockchain and digital innovation reform bill with 8 in favor and 1 against. The bill, presented by Jordan Teuscher, allows state treasurers to invest up to 5% of public funds in digital assets with a market value exceeding $50 billion. Utah is the 11th state in the U.S. to introduce such a law, but upon final approval in the Senate and signing by Spencer Cox, Utah’s governor, it will be the first state to enforce this law.
