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A lawmaker in Illinois, USA has proposed a new bill that aims to allow public funds to invest in Bitcoin treasury company stocks
According to btc-42">Bitcoin Treasuries, Illinois State Senator Steve McClure has proposed Bill SB3672 - the "Local Government Digital Asset Investment Act," which aims to amend the state's Public Funds Investment Act to allow public institutions to allocate up to 5% of public funds to Bitcoin-related financial products.
According to the bill's definition, eligible "digital asset stocks" must be equity in publicly listed companies, and the company must be verified by the latest audited financial statements to hold at least 25% of its total assets in Bitcoin or other digital currencies.
This threshold will include companies such as Strategy, Twenty One Capital, Metaplanet, and Semler Scientific, which have a core strategy of accumulating Bitcoin. The bill also allows public funds to invest in Bitcoin ETFs and Bitcoin bonds, with additional transparency requirements.
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