U.S. States Reject Cryptocurrency Reserves Amid Volatility Concerns

According to Foresight News, lawmakers in Montana, North Dakota, South Dakota, and Wyoming have recently voted against establishing state-level cryptocurrency reserves. The decision was driven by concerns over the risks and volatility associated with digital assets. Data from Bitcoin Laws indicates that 24 states have introduced strategic cryptocurrency reserve bills so far. Jennifer Schulp, Director of Financial Regulation Studies at the Washington-based Cato Institute, commented on the situation, stating that perceptions of volatility in Bitcoin and other digital assets are undeniable. She noted that if a pro-cryptocurrency government at the national level takes time to consider strategic Bitcoin reserves, states are likely to follow suit.