The bill on the adoption of cryptocurrencies as backup assets is sent to the House of Representatives of Kentukki representatives. Thus, Kentukki became the 16th state of the United States, which adopted such a bill for consideration.

Previously, similar regulatory documents were considered by the legislators of Arizons, Alabams, Florida, Massachusetts, Missouri, New Hampshire, Northern Dakota and South Dakota, Ohio, Oklahoma, Pennsylvania, Texas, Utah, Kansas and Wyoming.

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In case of adoption, the bill will authorize the state investment commission of Kentukki to invest up to 10% of excess state reserves in digital assets, including bitcoin. The bill does not mention specific cryptocurrencies, but the selection criterion will be a market capitalization, which should exceed $ 750 billion for the previous calendar year.

Thus, bitcoin becomes the only cryptocurrency that falls under this criterion with a market capitalization $ 1.95 trillion. For comparison, market capitalization etherwhich is about $ 330 billion, should have grown more than doubled to apply for inclusion in state reserves.

Earlier, Ripple Director General Brad Garlinghaus turned to the cryptocurrency and the new administration of Donald Trump with a proposal to expand the range of cryptocurrencies that will be part of the national reserve of digital assets. According to the head of the Ripple, the US national reserve should be diversified and include both bitcoin and ether, XRP and other crypto acts.