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Kansas Launches Public Bitcoin Reserve Strategy Using Abandoned Digital Assets
Source: CoinTribune Original Title: Kansas Wants to Create a Public Reserve of Bitcoin and Digital Assets Original Link: https://www.cointribune.com/en/kansas-wants-to-create-a-public-reserve-of-bitcoin-and-digital-assets/
Overview
Kansas has launched an unprecedented initiative to create a public bitcoin reserve funded by abandoned digital assets rather than direct cryptocurrency purchases. A new bill proposes to leverage unclaimed crypto holdings to build a strategic fund, potentially inspiring other US states to adopt similar models.
Bitcoin Reserve Strategy Without Direct Purchases
Kansas does not plan to purchase bitcoin directly. Instead, the state will accumulate it through airdrops, staking rewards, and interest generated from abandoned cryptocurrency wallets. Once these digital assets are deemed unclaimed, they will be integrated into a new state fund managed by the Treasurer.
Bill SB 352 stipulates that 10% of digital deposits must fund the state general fund, with a key exception: bitcoin will be held in a separate compartment reserved specifically for long-term strategic purposes.
The legislation also redefines crypto assets under Kansas statutes, positioning the public bitcoin reserve as a strategic tool without requiring taxpayer funds.
Institutional Framework and Bitcoin ETF Integration
SB 352 is part of a broader framework where Kansas also seeks to authorize investing up to 10% of public funds in Bitcoin ETFs. This dual approach reflects a comprehensive strategy to integrate cryptocurrency into the state’s fiscal planning.
The implications are significant:
Broader Implications for US States
Kansas is establishing a governance model where bitcoin functions as a strategic resource within public budget frameworks. This approach could catalyze a shift where US states increasingly view BTC as a legitimate institutional asset class.
Whether other states will adopt similar legislation or if Kansas remains an exception remains to be seen. The initiative represents a meaningful step toward mainstream institutional acceptance of cryptocurrency at the governmental level.