Overview
- HB 1039 by Rep. John Snyder, paired with Sen. Joe Gruters’ SB 1038 and SB 1040, would establish a Strategic Cryptocurrency Reserve and a dedicated trust outside the state treasury.
- Only assets averaging at least $500 billion in market value over the prior 24 months would qualify, which currently limits eligibility to Bitcoin.
- The CFO would custody and manage the reserve with authority to hire qualified custodians and liquidity providers, use regulated products and derivatives, sell holdings, and operate under audits and advisory oversight.
- Funding sources outlined include appropriations, investment earnings, legal recoveries, purchases, and blockchain events such as forks or airdrops, with related measures allowing up to 10% allocations from select public funds and permitting limited crypto tax payments converted to dollars.
- The package includes a conditional effective date of July 1, 2026, and the Senate version has been referred to Banking and Insurance and Appropriations committees for the 2026 session.